CBE Launches Initiative Worth EGP 30 bn to Support Micro Enterprises

Thursday, 25th May 2017

The Central Bank of Egypt (CBE) launches an initiative worth EGP 30 bn to fund micro enterprises, Invest-Gate reports.

Governor of CBE Tarek Amer has launched the initiative that relies on engaging banks in financing micro enterprises, according to a released statement.

Small and Medium-sized enterprises (SMEs) are a major contributor to the country’s gross domestic product (GDP) and thus such an initiative has been launched, the statement says.

“We seek to double financing to SMEs to reach a total amount of EGP 400 bn,” says Amer.

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