Misr Iran to Take Part in CBE Housing Initiative this Month

By Yomna Yasser On Jul 3, 2014

Misr Iran Development Bank targets participation in the Egyptian Central Bank’s mortgage finance initiative within the current month.

A senior source from the bank told Amwal Al Ghad on Thursday that Misr Iran is set to sign an agreement worth EGP 150 million with the Egyptian Mortgage Finance Fund within the upcoming few days.

CBE announced in February that it had allocated EGP 10 billion ($1.44 billion) to finance low-income housing projects, with the aim of boosting the construction and real estate sectors.