The Egyptian Arab Land Bank (EALB) and EFG Hermes Leasing are signing an agreement to provide leasing solutions for fixed assets to small businesses, Invest-Gate reports.

Under the EGP-50-mn deal, both parties will provide the funding at lease arrangements of low interest rates for small enterprises in Egypt, according to a press release.

The agreement aims to capitalize on the Central Bank of Egypt’s initiative to create a healthy financial environment for small businesses.