The National Bank of Egypt (NBE) and Egypt’s Social Fund for Development (SFD) will be signing within the current month a framework agreement worth EGP 146 million outlining joint efforts to boost development and opportunities for small and micro sized enterprises in the country.
A senior source from NBE told Amwal Al Ghad that his bank’s total number of agreements signed with the SFD through the first half of the current fiscal year surged to EGP 346 million.
Additionally, the NBE’s total agreements signed with the SFD are approaching EGP 6 billion.
In the same context, Soha Soliman – Head of Small and Medium Enterprises (SMEs) at NBE – has revealed to Amwal Al Ghad that the bank’s SMEs loan portfolio reached EGP 9.3 billion at the end of October, 2013, accounting for about 10% of the bank’s total loans.
