Banque du Caire, EIB sign $100m loan agreement to finance SMEs

Daily News Egypt
1 Min Read

Banque du Caire has announced it has signed a loan agreement worth $100m with the European Investment Bank (EIB) to finance small- and medium-sized enterprises (SMEs).

Tarek Fayed, Chairperson and CEO of Banque du Caire, expressed his gratitude for the partnership with EIB, the lending arm of the European Union. He noted that the partnership reflects a high level of trust in Banque du Caire’s financial soundness indicators, and its pivotal role in Egypt’s banking sector.

Fayed also emphasised that Banque du Caire’s keenness to boost and diversify its foreign currency funding resources is directed at financing SMEs, which are a cornerstone in economic growth and sustainable development.

The agreement’s signing reflects Banque du Caire’s strong relations with global financial institutions for the benefit of the Egyptian economy.

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