Italy Mulls $45 million Loan for SMEs in Egypt

Italian Ambassador to Cairo Maurizio Massari said that negotiations are undergoing between the Egyptian government and its Italian counterpart over a financing facility worth between $45 million for SMEs.

In a press conference held on the sidelines of a workshop held by the Italian Chamber of Commerce, Massari noted that Italy financed small and medium-sized projects in Egypt by $10 million via loans with low interest rates.
Moreover, the ambassador called for maritime transport linking between Egypt and Italy in order to boost trade exchange that currently stands at $6 billion.