United Bank of Egypt launches New Products for Alternative Energy, Small Contractors

The United Bank of Egypt is planning in few coming weeks to introduce two new products to fund projects related to alternative energy project and the small contractors programme, chairman revealed Wednesday.

During a banking conference held on Wednesday, United Bank’s chairman Mohamed Ashmawy said his bank would sign in two weeks its first deal to support small contractors programme. The deal is valued at around 6 million Egyptian pounds (US$786.5 thousand) with one of the local construction firms in Egypt, he added.