Emirates NBD Egypt has signed a new loan contract worth EGP 400 million with Alexandria Business Association (ABA) to expand the horizon of the latter’s microfinance services across the country, according to an emailed press release.

Under the deal, the ABA will be able to increase the volume of loans provided to small and micro enterprises, creating promising job opportunities for the most vulnerable groups, particularly in rural areas.

This will improve the livelihoods of rural population and, in turn, boost the country’s gross domestic product (GDP).

The deal aligns with the bank’s strategy to bolster financial inclusion and expedite the pace of development in Egypt.

© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).