By: Abdallah Bedier
Cairo – Mubasher: The Central Bank of Egypt (CBE) has allocated as much as EGP 110 billion financing for the small- and medium-sized enterprises (SMEs) as part of its initiative to fund these projects with EGP 200 billion, the central bank’s deputy governor said on Sunday.
The CBE has earmarked EGP 2 billion to cover risks related to financing the SMEs, Lobna Helal told Mubasher.
The loan will be entirely funded by the end of this year, Helal added.
In 2016, the CBE launched an initiative to finance SMEs with EGP 200 billion in financing.
Translated by: Mai Ezz El-Din
