The Housing and Development Bank (HDB) has directed 25% of its credit portfolio to small and medium enterprises (SMEs) in 2022, including 11% directed to small enterprises, in accordance with the objectives of the Central Bank of Egypt (CBE).
The SMEs sector receives great attention from the state and CBE due to its importance in achieving sustainable development and Egypt’s Vision 2030.
Hassan Ghanem, Chairman and Managing Director of the bank, said that supporting SMEs is at the top of the bank’s strategic plan priorities, given its role in development, job generation, and building an Egyptian industrial and productive base to create a national competitive industry that enhances the local product.
Ghanem stressed that all means of support are given to the SMEs sector in the bank. He also expressed his happiness with achieving the goal of CBE, praising the performance of the SMEs sector work team, thanking all its employees for their efforts to implement the development plan and achieve the objectives of the bank’s ambitious strategy.