The Mortgage Finance Fund (MFF) signs a cooperation protocol worth EGP 250 mn with Egypt’s real estate finance agency, Contact, to finance low-income applicants for social housing units, Invest-Gate reports.

Under the protocol, the company will immediately support applicants with initial financing worth EGP 50 mn, according to Mai Abdel Hamid, CEO of the Social Housing Fund and head of MFF.

The UAE Central Bank had earlier inked a cooperation protocol worth EGP 500 mn with the Egyptian Mortgage Refinance Company (EMRC), with the sum to be re-pumped to other lending finance firms.