ABA to Revive Libya Market Project by March, Aims to Inaugurate 5 Subsidiaries

Motaz El Tabaa, the Executive Director of Alexandria Business Association (ABA) said the association will revive Libya market project through financing the businessmen who are running small and micro sized projects in Marsa Matrouh –Libya market during the next of March.

Libya market has faced a huge fire at the end of 2012, and lost EGP10 million.

El Tabaa added that ABA is planning to pump funding ranging between EGP6-10 million in cooperation with US Agency for International Development which desires to participate in the project.

He emphasized that ABA’s strategy is to spread geographically and to inaugurate 5 new subsidiaries, becoming 65 branches.

The total granted financing by ABA for micro projects reached EGP855 million at the end of 2013, targeting to pump micro projects with EGP1.1 billion by the end of 2014.