ABA Pumps EGP1.1 bln for Financing Micro Projects in 2014

By Salma Ayman On Jan 2, 2014

Alexandria Business Association (ABA) is intending to pump EGP1.1 billion for funding micro projects within the current new year of 2014.

Motaz El Tabaa, the Executive Director of ABA has informed Amwal Al Ghad that the total granted funding by ABA for micro projects attained EGP855 million at the end of 2013.

ABA granted more than 312K loans , so the number of customers become 266K , noting that the portfolio of micro projects reached EGP450 million at the end of 2013.

ABA renewed EGP95 million credit facilities for bank of Alexandria ((Bank of Intesa Sanpaolo Group), in addition EGP90 million facilities from National Bank of Egypt (NBE) for financing micro projects.