Cairo –  Banks in Egypt have provided EGP 2.8 billion in finances as part of an initiative to support industrial projects, according to deputy governor of the Central Bank of Egypt (CBE) Gamal Negm.

The number of beneficiaries from the CBE’s initiative, launched late last year, reached 115 by 20 February, Negm said in a press event on Wednesday.

About 13 clients received finances for machinery, equipment, and production lines, while 102 received funds to finance their working capital.

Last December, the Egyptian government launched an EGP 100 billion initiative with the CBE to fund industrial projects.

 

Source: Mubasher Exclusive

All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.