Cairo - Mubasher: Banque Misr intends to borrow $500 million from the European Investment Bank (EIB) in order to expand funding for small and medium-sized enterprises (SMEs), according to the bank’s vice chairman Akef El Maghraby.
El Maghraby noted that the finance contracts are in the last stage of preparation, with the deal set to be signed last week on the sidelines of the Africa 2017 conference.
The loan will be distributed over two $250 million tranches, with a three-year repayment period, he added.
