EALB, EFG Hermes Ink Deal to Support Small Businesses

EALB, EFG Hermes Ink Deal to Support Small Businesses

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.

Menna A. Farouk 368 Posts

Menna A. Farouk is a Cairo-based reporter. She has contributed to several international news organizations, including Deutsche Welle, Al-Monitor and Global Voices.

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