Cairo – Mubasher: The Egyptian National Program for Community, Human, and Local Development (Mashroak) has financed about 138,580 projects across the country with almost EGP 13 billion, the minister of local development Mahmoud Shaarawy said.
A total of 16,724 projects in Minya have been financed with EGP 1.54 billion, while 14,727 projects in Beheira have been financed with EGP 1 billion, Shaarawy added in a statement on Wednesday.
In addition, 14,380 projects in Sohag, 11,886 projects in Dakahlia, and 10,830 projects in Sharkia have been financed with EGP 1.358 billion, EGP 1.027 billion, and EGP 1.352 billion, respectively.
It is noteworthy that Mashroak is part of the Central Bank of Egypt’s (CBE) initiative to finance micro-, small-, and medium-sized enterprises (MSMEs) with loans at an interest rate of 5%.
Banks participating in the initiative are the National Bank of Egypt (NBE), Banque Misr, Banque du Caire, ALEXBANK, Housing and Development Bank, and the Agricultural Bank of Egypt.
