Housing & Development Bank Launches a New Division to Fund SMEs

Egyptian lender Housing and Development Bank (HDB) has launched a new division for the small and medium-sized enterprises (SMEs), aiming to fund more SME projects within upcoming period.

Moreover, the bank is currently in talks with the Egyptian Social Fund for Development (SFD) over EGP 100 finances to fund small and franchise projects, a senior source from the bank told Amwal Al Ghad.

In Egypt, SMEs lending seizes 7% of total loans which total EGP 550 billion.