Banque du Caire has signed a new EGP 400m financing agreement with the Micro, Small and Medium Enterprises Development Agency (MSMEDA) to support small and medium enterprises (SMEs) across Egypt through the bank’s nationwide branch network. The agreement aligns with Banque du Caire’s strategy to promote financial inclusion and expand financing directed to the SME sector.
The agreement was signed by Basil Rahmy, CEO of MSMEDA, and Bahaa El Shafie, Deputy CEO of Banque du Caire, in the presence of Hussein Abaza, Chairperson and CEO of Banque du Caire; Ahmed Effat, Deputy CEO; Ayman Khattab, Head of Financial Institutions; Nadia Alaa El-Din Ibrahim, Acting Head of the SME Group at the bank; Mohamed Medhat, Deputy CEO of MSMEDA; and Mohamed Osama Bakry, Head of the Central Sector for SME Financing.
Abaza said the continued cooperation with MSMEDA reflects the strong mutual trust and long-standing strategic partnership between the two institutions. He noted that the new agreement will help provide sustainable financing sources for SMEs, supporting production expansion and contributing to the creation of new job opportunities.
He added that supporting the SME sector remains a top priority for Banque du Caire, pursued through an integrated framework of financial and non-financial solutions developed over years of accumulated experience. This approach enables project owners to grow and enhance their competitiveness, while contributing to the state’s objectives related to financial inclusion and sustainable development.
Rahmy, for his part, praised the ongoing cooperation between MSMEDA and Banque du Caire in supporting various types of enterprises, noting that the two sides have previously signed financing agreements exceeding EGP 5bn. These include 28 contracts for small enterprise financing worth EGP 507m, in addition to 20 microfinance contracts totalling EGP 4.5bn.
He added that the new agreement will facilitate access to financing for a wide range of projects nationwide, leveraging Banque du Caire’s extensive branch network. Funding will focus on industrial and productive activities, entrepreneurship, and information technology, in line with the state’s strategy to support local production and expand enterprise creation to provide sustainable employment opportunities for young people, particularly recent graduates.
The agreement underscores Banque du Caire’s commitment to the SME sector as a strategic pillar of its operations and reinforces its position as a leading financier of SMEs in the Egyptian banking market. The bank continues to leverage its strong track record, accumulated expertise, and broad geographic presence to deliver tailored financial and non-financial solutions that enhance growth potential, improve operational efficiency, support sustainability, and strengthen competitiveness in line with Egypt’s economic and development goals.
