BDC in talks to borrow $50 million from 2 financial institutions

Banque du Caire is negotiating  with two financial institution to borrow $50 million in order to fund small and medium enterprises.

A source with knowledge told Amwal Al Ghad that the two institutions are Arab Fund for Economic and Social Development and European Bank for Reconstruction and Development.

He added that the bank pays great attention to small and medium enterprises sector during the next period, especially after the restructuring of the sector in light of the Central Bank’s initiative to increase the sector’s funds to 200 billion pounds.

Tarek Fayed, the head of BDC revealed that the value of   micro finance portfolio amounted to 3.4 billion pounds to about 184 thousand clients.