Cairo - Mubasher: Misr Iran Development Bank (MIDB) has pumped around EGP 700 million to finance small and medium sized projects by the end of last month, according to VP Amr Tantawy.
Tantawy told Mubasher on Thursday that MIDB is considering new investments in SMEs financing by EGP 500 million, noting that the bank has exceeded the share set by the Central Bank of Egypt’s (CBE) initiative to support small projects at 20% of the total portfolio.
The SMEs portfolio reached EGP 2.4 billion by the end of September, and it is planned to further increase it to EGP 2.8 billion by the end of 2018.
