By: Islam Fadl
Cairo – Mubasher: Global Lease has signed a protocol with Attijariwafa Bank – Egypt to fund small and medium-sized enterprises (SMEs) with an amount ranging from EGP 400 million to EGP 500 million for 2019, Global Lease’s CEO and managing director Hatim Sameer told Mubasher on Tuesday.
The protocol aims at supporting SMEs through financing capital expansions and the provision of financial leasing services, Attijariwafa Bank – Egypt said.
The bank noted that it would conduct the arrangement, financing, and collection of the agreed-upon payments, while Global Lease would act as a lessor and collateral agent for the transactions.
The financing deal will be closed under the Central Bank of Egypt's (CBE) credit initiative, Attijariwafa Bank – Egypt added.
The signed protocol will cover many sectors including petrochemicals, electronics, iron and steel industries, and pharmaceuticals.
Translated by: Muhammad Abdul-Wakeel
