Three key Egyptian banks negotiating AfDB for SME finances

Three major Egyptian banks, the National Bank of Egypt, Commercial International Bank, and Banque Du Caire are negotiating with the African Development Bank (AfDB) over new finances.

The new finances will be part of the African bank’s strategy to support the national economy, said its Resident Representative in Egypt, Leila Mokaddem in a press conference at the Ministry of International Cooperation’s headquarters on Thursday.

The three Egyptian banks are seeking finances to go for small and medium-sized enterprises in addition to energy projects and delivering natural gas to homes across the country.