ABA receives EGP 3.4 bln Funding

The total of funding portfolio granted by Alexandria Business Association (ABA) for the micro-enterprises is EGP 3.4 billion; that is since its inauguration till now.

In his statements to “Amwal Al Ghad”, Moatz Al Taba’a, ABA’s Deputy Chairman, said the volume of funding used now reached EGP 140 since the start of 2012 and till the end of April. The funds, which the association has not used yet, reached EGP100 million during the same period.

On the sidelines of the Arab Banking Forum entitled “SMEs…. The Arab Strategic Economic Choice”, he elaborated that the association has lately received funding from three different bodies reached EGP 192 million. The first is EGP 95 million from Alexandria Bank to the association, and EGP 72 million from National Bank of Egypt (NBE). The last is EGP 25 million from Social Fund for Development.