NBE’s SMEs Loans Registers EGP 2.1 Bln In April

National Bank of Egypt’s (NBE) loans to SMEs registered an increase of EGP 500 million, totaling EGP 2.1 billion provided to 7400 customers during the first 10 months of the current fiscal year, said Soha Soliman, head of SMEs the bank.

NBE plans to expand in financing SMEs believing in its role in increasing national income and securing job vacancies through low-cost projects, Soliman added.

Soliman told Amwal Al Ghad that the Bank is contributing with 8 financial institutions for financing SMEs which are; African Development Bank, a soft loan from Italy, French Development Agency, a line of credit offered from Spain’s Institute De credit official, Social Fund for Development, Industrial Pollution Control Project, Environmental Commitment Accord and NBE’s SMEs finance program. NBE received 6 billion from these institutions till now.