The European Investment Bank (EIB) has agreed to loan Egypt’s Banque Misr a $500 million package to fund small and medium enterprises (SMEs), deputy chief of Banque Misr Akef El-Maghraby told Al-Ahram Arabic news website on Saturday. El-Maghraby said that
the package will greatly contribute to funding for SMEs given its low interest rate and long intervals for debt repayment. According to EIB, a total 890 million euros were stated for Egypt in 2016 under the EIB’s commitment to support the economic and social development of Mediterranean partner countries.
EIB to loan Egypt’s Banque Misr $500m. to fund SMEs
