€ 20 million soft credit line is being executed to finance purchasing Spanish goods and services to private SMEs and the Spanish-Egyptian joint ventures.
The Spanish Embassy said today in a statement that the credit includes an endowment for the borrower by not less than 35% of the loan value. The financed project value shall not exceed € 2.4 million.
This credit came under the Egyptian-Spanish financial cooperation program signed between the two parties in 2008. The program includes granting soft loans up to € 170 million to the public projects executed by Spanish companies and endowments to finance feasibility studies or public programs executed by Spanish companies.
National Bank of Egypt will manage this credit line.