ABA Finances 71.000 Micro Projects with EGP209m in Q1 of 2014

The total value of loans granted by Alexandria Businessmen Association (ABA) for financing micro projects reached around 71.000 worth EGP209 million within the first quarter of 2014.

The Association is targeting to inject new funds with EGP1.2 billion during the current year, compared to EGP850 million in the last year, Executive Director of ABA Moataz Al Tabaa said.

The total issued loans by ABA for micro projects up EGP5 billion at the end of the current March.

He further explained that the General Assembly is considered to be the first beneficiary of the credit information service in collaboration with I-score where ABA will obtain 6000 credit information monthly of the company.