Banks inject EGP115 bln as part of CBE’s SMEs initiative

The banks operating in Egypt have pumped an amount of 115 billion Egyptian pounds as part of the Central Bank of Egypt’s (CBE) initiative to support small- and medium-sized enterprises (SMEs), Lobna Helal, Deputy Governor said

Helal added on the side lines of CI Capital’s 3rd Annual MENA Investor Conference that the banks directed 10 billion pounds to microfinance.

On the other hand,  she noted that the banking system has injected 20 billion into the mortgage sector benefiting more than 20 million families.

Helal Further noted that the CBE initiatives have contributed with rebalancing the Egyptian economy.

CI Capital, a leading Egyptian diversified financial services group, kicks off its 3rd annual MENA Investor Conference in Cairo, today.