Italy to Unveil a Second Credit Line with Egyptian Banks Soon

The Italian Technical Cooperation Agency will be opening soon a new credit line with a number of Egyptian banks, the agency’s director Marco Platzer announced on Monday. Platzer said more information about the new credit line will be announced soon.

This is the second credit line Italy opened to support Egyptian and Italian small and medium-sized enterprises (SMEs) that have common projects in the industry, food and services sectors.

During MEDA Finance 2014 event which kicked off in Cairo on February 9-10, the Italian official stated that his agency and Egypt’s Social Fund for Development (SFD) are setting a number of initiatives – which will be disclosed soon – seeking to start a new programme for soft loans in favour of Minya, Faiyum, and Mersa Matruh governorates.