Cairo – Mubasher: The Central Bank of Egypt (CBE) has launched a programme in cooperation with the German Embassy in Cairo and the European Union (EU) to reinforce financial inclusion and banking supervision in the Arab world's most populous country.
The North African nation will receive around EUR 3.2 million in financings as a technical support to the CBE for three years, the central bank added in a statement on Thursday.
The programme will bolster the CBE’s efforts to establish a comprehensive national database to calculate the levels of financial inclusion, which will include families and the small- and medium-sized enterprises (SMEs), according to the statement.
A survey is set to be conducted in 2019 in collaboration with the authorised entities.
In October, Egypt signed two agreements worth a combined EUR 135 million with the EU to maintain financial inclusive, offer jobs to youth, and combat illegal immigration in the country.
