EIB, Banque Misr ink two deals to support SMEs in Egypt
The European Investment Bank (EIB) and Banque Misr have signed two technical assistance agreements to support small- and medium-sized enterprises (SMEs), Arab Finance reports citing emailed press release on July 6th.
The first program will bolster Banque Misr’s credit risk management and help it adopt SME financing best practices. The second according to the statement will enable the Egyptian bank to identify bankable sustainable private sector investment projects and develop new financial products for SMEs.
“The two new technical assistance programs agreed today will enable even stronger support for business investment and enable smaller companies to grow, create jobs, and harness new business opportunities,” Banque Misr’s Vice Chairman Akef El Maghraby.