By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Public Enterprise Minister discusses cooperation with Aluminium Bahrain
    Public Enterprise Minister discusses cooperation with Aluminium Bahrain
    May 28, 2023
    First Abu Dhabi Bank Egypt launches ‘Access’ portal for electronic payments
    First Abu Dhabi Bank Egypt launches ‘Access’ portal for electronic payments
    May 28, 2023
    Sorouh partners with RICON Construction to establish new projects with EGP 30bn investments
    Sorouh partners with RICON Construction to establish new projects with EGP 30bn investments
    May 28, 2023
    Egyptian property sales increase 7% in April: Aqarmap
    Egyptian property sales increase 7% in April: Aqarmap
    May 28, 2023
    Africa needs 10 million housing units annually to meet increasing demand:AFCCA
    Africa needs 10 million housing units annually to meet increasing demand:AFCCA
    May 28, 2023
  • Politics
    PoliticsShow More
    Irrigation Minister reviews preparations for upcoming Cairo Water Week
    Irrigation Minister reviews preparations for upcoming Cairo Water Week
    May 28, 2023
    Al-Sisi affirms Egypt's keenness on security, stability of Iraq
    Al-Sisi affirms Egypt’s keenness on security, stability of Iraq
    May 28, 2023
    Biden, Republican House Speaker reach ‘preliminary agreement’ on debt ceiling
    Biden, Republican House Speaker reach ‘preliminary agreement’ on debt ceiling
    May 28, 2023
    Erdoğan wins third presidential term in Turkey after tough run-off
    Erdoğan wins third presidential term in Turkey after tough run-off
    May 28, 2023
    Map of alliances affects second round of Turkish presidential election
    Map of alliances affects second round of Turkish presidential election
    May 28, 2023
  • Interviews
    InterviewsShow More
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    May 25, 2023
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    May 8, 2023
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    April 29, 2023
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    April 18, 2023
    "Al-Asly" series saw my first leading role in TV drama: Reham Abdel Ghafour
    “Al-Asly” series saw my first leading role in TV drama: Reham Abdel Ghafour
    April 16, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Business development centres provide EGP 1.8bn in financing for 42k projects during 2021: Nile Pioneers
Share
Notification
Latest News
Public Enterprise Minister discusses cooperation with Aluminium Bahrain
Public Enterprise Minister discusses cooperation with Aluminium Bahrain
Business
Irrigation Minister reviews preparations for upcoming Cairo Water Week
Irrigation Minister reviews preparations for upcoming Cairo Water Week
Politics Egypt
Al-Sisi affirms Egypt's keenness on security, stability of Iraq
Al-Sisi affirms Egypt’s keenness on security, stability of Iraq
Politics Egypt Region
Biden, Republican House Speaker reach ‘preliminary agreement’ on debt ceiling
Biden, Republican House Speaker reach ‘preliminary agreement’ on debt ceiling
Politics World
Erdoğan wins third presidential term in Turkey after tough run-off
Erdoğan wins third presidential term in Turkey after tough run-off
World Politics
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Business development centres provide EGP 1.8bn in financing for 42k projects during 2021: Nile Pioneers
Business

Business development centres provide EGP 1.8bn in financing for 42k projects during 2021: Nile Pioneers

Daily News Egypt
Last updated: 2022/01/23 at 3:22 PM
By Daily News Egypt 4 Min Read
Share
SHARE

The Nile Pioneers Initiative, one of the initiatives of the Central Bank of Egypt (CBE), has announced that the volume of funds provided by the Business Development Services Centres (BDS) reached EGP 1.8bn since its launch in 2019 until the end of 2021, benefiting more than 42,000 new and existing projects.

This is within the framework of the continuous support of the bank’s initiative, supporting entrepreneurs and owners of small and medium enterprises, encouraging young people, and providing them with opportunities to start new projects.

Ahmed Hosni, the Director of the BDS Programmes at the Nile Pioneers Initiative, said in a statement on Sunday that the 12 banks participating in the initiative continued their expansion plans by establishing 8 new business development units, bringing their number to 32 centres and units, including 27 units in banks and five units in the Ministry of Youths and Sports, covering 17 governorates, as well as the continuation of the strategy of qualifying specialists through the Egyptian Banking Institute — the training arm of the CBE. 

During 2021, about 29 new business development specialists were trained, bringing the total number of specialists in banks to 126, in addition to 31 specialists qualified by the Ministry of Youths and Sports.

The services provided by BDS centres and units vary, as they meet the actual needs of the target groups through full coordination with governmental and non-governmental agencies and institutions. 

According to Hosni, the BDS centres and units succeeded in achieving a major boom during 2021, targeting about 24,000 beneficiaries, an increase of 11,000 from 2020, and a growth rate of 84.7%, bringing the number of beneficiaries since the launch of the initiative to about 42,278, 26% of which are women, while young men and women in the 16 to 35 age group accounted for 52.6%.

He explained that the BDS centres doubled their activities during 2021 in spreading awareness of entrepreneurship and a culture of financial inclusion by holding nearly 500 seminars and meetings, targeting about 40,000 beneficiaries — whether through direct participation or through social media — during which, more than 15,000 services were provided within the framework of financial inclusion services.

This brought the total during 2021 to about 28,500 services, including 13,000 electronic cards, 6,500 debit and credit accounts, 7,000 electronic payment services, and 2,000 consultations to improve cash management and administrative solutions.

Hosni indicated that the package of services provided by BDScentres during 2021 also achieved a great leap, reaching about 66,000 services and an increase of 34,000 services, with a growth rate of 107% compared to 2020, bringing the total services to about 107,500 services since the launch In July 2019. 

He pointed out that these services had a direct impact in supporting the targeted groups of youths and entrepreneurs.

He added that through the initiative, about 12,420 feasibility studies and work plans for new and existing projects were prepared and reviewed, providing about 37,000 job opportunities, and 65 ready-made feasibility studies were prepared and published on the BDS centres website (https://np.eg/bds-hubs). 

The website allows young people and those who wish to set up a private project to communicate with service specialists through social media or by booking an appointment on the same site.

He added that the BDS centres of the Nile Pioneers Initiative also helped in obtaining official activity documents for about 2,395 commercial and industrial records and activity licenses.

You Might Also Like

Public Enterprise Minister discusses cooperation with Aluminium Bahrain

First Abu Dhabi Bank Egypt launches ‘Access’ portal for electronic payments

Sorouh partners with RICON Construction to establish new projects with EGP 30bn investments

Egyptian property sales increase 7% in April: Aqarmap

Africa needs 10 million housing units annually to meet increasing demand:AFCCA

TAGGED: Business development
Share this Article
Facebook Twitter Email Print
Previous Article FM Shoukry participates in Egyptian-Omani Business Council
Next Article Bouvé College of Health Sciences of Northeastern University, USA in collaboration with GlobeMed Group, the leading healthcare benefits management group in the Middle East, launched its impactful research initiative Northeastern University, GlobeMed Group collaborate to launch the Impactful Research Initiative: “Harnessing the Role of Private Sector in advancing Universal Health Coverage in Egypt”
Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Public Enterprise Minister discusses cooperation with Aluminium Bahrain
Public Enterprise Minister discusses cooperation with Aluminium Bahrain
Business
Irrigation Minister reviews preparations for upcoming Cairo Water Week
Irrigation Minister reviews preparations for upcoming Cairo Water Week
Politics Egypt
Al-Sisi affirms Egypt's keenness on security, stability of Iraq
Al-Sisi affirms Egypt’s keenness on security, stability of Iraq
Politics Egypt Region
Biden, Republican House Speaker reach ‘preliminary agreement’ on debt ceiling
Biden, Republican House Speaker reach ‘preliminary agreement’ on debt ceiling
Politics World
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?