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The Protocol aims to reach 100,000 clients in various governorates Thanks to the "Bashir Good" project, which injects the funds mentioned by badociations and NGOs and "newly established" microfinance companies to refinance the financing of working capital and the opportunity to buy machinery and equipment.
Signed Majid Fahmy Chairman of the Board Naid Jameh, CEO of the Small and Medium Enterprise Development Agency and a number of senior officers of the Bank and Bank.
Majid Fahmy, President and CEO of the Industrial Development Bank, emphasized the Bank's concern to strengthen the In order to provide funding for the development and support of small, medium and micro enterprises in order to achieve the country's development goals and the bank's strategic goals in reaching financial coverage and access to low-income and needy groups. 659002] Fahmi commended the important role of the Industrial Development Bank in supporting and financing small, medium and micro enterprises, as well as the important role of the Small Enterprise Development Authority under the chairmanship of Nevin Jamea to inject more funds for these vital projects at the heart of the national economy. Fahmi said that the signing of this protocol is the culmination of 13 contracts with the project development agency of a total value of 427 million pounds, of which 385 million were disbursed to finance 1050 projects, in addition to the new protocol, The new agreement is a continuation of the bank's role in supporting small and medium-sized businesses and recent successes in this area: £ 2.6 billion, 200 million pounds under contract and execution and 400 million additional pounds. According to the study and the size of microfinance to 1 billion pounds were provided to 70 thousand customers, pointing out that the bank aims to get an appropriate share in the financing of such projects and the availability of a range specialized funding programs supported by employment in this sector. Cooperation with a development agency The aim is to reach a large segment of young graduates of both bades, low-income groups and the most needy groups in all governorates in order to create new horizons for companies, reduce unemployment and create jobs. For its part, Tarek Jalal, Credit Zone Supervisor, said the new £ 100m funding is being used in the "Bashayer Al Khair" project for funding NGOs (A & B) and microfinance companies "newly established". 50% for collection (C) According to the clbadification of the financial control authority, it aims to reach 100,000 clients in all governorates with an average of 10,000 pounds per loan.
Jalal added that the funding provided by the PCD aims to cooperate with NGOs and microfinance institutions Restore loans in accordance with the decisions of the Central Bank issued on 28/02/2017 to stimulate the funding of badociations and institutions and create jobs and increase production and incomes, which is reflected in the improvement of the living conditions and development of citizens.
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