NBE, AlexBank, Bank Audi grant $21.7 million to Lead Foundation

The Egyptian NGO, Lead Foundation has recently obtained credit facilities worth 170 million Egyptian pounds (US$21.7 million) from three major banks, vice chairman Karim Fanous said Sunday.

Fanous said the three banks who secured the credit facilities are the National Bank of Egypt, AlexBank, and Bank Audi.

Lead Foundation’s ongoing portfolio of micro projects reached 225 million pounds in the past ten months, to serve around 151,000 clients, Fanous told Amwal Al Ghad.

Lead Foundation was founded in 2003 under NGO law number 84/2002.

The foundation has around 18 branches in addition to two represent offices.