حفلة 2024

AlexBank secures Germany’s SANAD $10 mln loan for Egypt MSMEs

Egypt’s AlexBank, a member of Italian bank Intesa Sanpaolo Group, has received Tuesday an additional $10 million from SANAD Fund for MSMEs, of the German state-run Kfw Development Bank.

The new loan is designated to support AlexBank’s ongoing expansion of financing for Egyptian micro, small, and medium enterprises (MSMEs).

AlexBank operates a specialised SME department along with decentralised SME business centers throughout Egypt to increase outreach and access to finance.

“The MSME segment is of vital importance for the healthy growth of the Egyptian economy,” said Dante Campioni, Managing Director and CEO of AlexBank.

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