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National Bank of Egypt allocated EGP 600 million to finance microenterprises through civil society organizations, Soha Soliman head of SMEs at NBE said.
The finance term is up to one year. Soliman noted that these funds will be offered also directly to microenterprises with a minimum limit of EGP 1000 and a maximum limit of EGP 20 thousand.
Soliman added that NBE offered EGP 1.6 billion funds for micro, small and medium enterprises in the first 9 months of the current fiscal year for 6330 new customers. In addition, NBE plans to finance SMEs with EGP 2.2 billion this year.
