NBE Signs Three Loan Agreements Worth EGP 450 Mln With SFD

The National Bank of Egypt (NBE) has signed three finance agreements worth EGP 450 million with Social Fund for Development (SFD) to finance SMEs.

Sources said NBE signed a contract worth EGP 100 million to finance projects of physicians and pharmacists, a contract worth EGP 150 million to develop SMEs and another worth EGP 200 million to finance debit accounts.

NBE has signed with SFD contracts worth EGP 5 billion to finance SMEs.

NBE has lent SMEs EGP 500 million during the first 10 months of the current fiscal year. The total loans offered by NBE to SME registered EGP 2.1 billion offered for 7,400 customers at the end of April.