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IFC invests close to $200m in Egypt, eyes opportunities in infrastructure, manufacturing sectors
The International Finance Corporation (IFC), a World Bank Group member, invested close to $200m in the Egyptian market over the last eight months, the IFC Country Manager for Egypt, Libya, and Yemen, Walid Labadi, told Daily News Egypt (DNE). The IFC chose Egypt earlier as a model for its investments in Middle East and Africa. …
CBE sets new controls for mortgage finance initiative for low-income individuals
Mortgage finance will be provided for clients who meet CBE’s conditions
Egypt signs protocol to finance establishing first actuarial life table
Statistics calculate remaining life expectancy for people at different ages, probability of surviving to given age
SMEDA pumped EGP 3.1bn to finance development projects in Assiut: Gamea
MoU signed between SMEDA, Assiut University to qualify graduates to establish, manage small projects
SMEDA, Tahya Misr Fund finance 468 pickup trucks, 1,000 taxis for youth
Supply Ministry uses refrigerated cars to cover citizens’ needs for ration goods in various governorates
SMEDA, NBE sign EGP 400m deal to finance small projects
The deal will benefit 2,288 small projects, offer 6,864 jobs
AIB allocates EGP 100m to finance microprojects: chairperson
Bank injected EGP 80m to finance microprojects through associations, companies
ABE, SMEDA sign EGP 40m deal to finance women projects
60% of deal’s value allocated to women below poverty line
$10m loan to finance MSMEs from SANAD in partnership with Banque du Caire
The SANAD Fund for MSMEs (SANAD) announced, in a press statement on Monday, that it will finance a $10m senior loan to Egypt’s Banque du Caire to support the expansion of the bank’s lending operations for micro, small, and medium enterprises (MSMEs). Banque du Caire, which is Egypt’s sixth largest bank, with its status as …
IFC plans to launch new credit line for banks to finance SMEs in Egypt
Corporation negotiating with major companies in Egypt to increase female labour, says gender specialist
Finance lease contracts rose to EGP 22bn in 10M 2017: FRA report
Real estate, land came on top, followed by automotive sector
Suez Canal Bank plans to break into retail banking, real estate finance, SME financing in its new strategy: chairperson
The bank has established 3 new departments specialised in these activities and is currently preparing its own cadres: Refaei
EFG Hermes Leasing signs joint venture agreement to finance small businesses in Egypt
The agreement comes in line with the government’s focus on SMEs
SMEDA signs 10 contracts with NGOs to finance micro projects worth EGP 12.2m
The contracts will benefit 2,635 in eight governorates, through providing micro-loans up to maximum EGP 10,000, says Gamea
Ministry of Industry to launch Misr Venture Capital to finance troubled factories
Inauguration begins with studying 72 defaulting factories in coordination with Industrial Modernization Centre
Robust economic policies needed to maximise private savings and finance growth in Egypt: World Bank
The research by the World Bank said that trust and internet access are significant to savings behaviour, whereas physical access and distribution of banks do not have an effect on one’s probability of participating in bank savings and/or informal savings
G20 finance chiefs to grapple with tackling tax evasion
Banque Misr injected EGP 869m to finance housing of 10,309 medium and low income clients
The bank injects more than EGP 5bn to finance environment-friendly energy production projects, meets the standards of GRI as the first Egyptian government bank
Mortgage companies participating in CBE initiative to finance low- to middle-income housing
Mortgage finance companies operating in the domestic market started to prepare their participation in an initiative launched by the Central Bank of Egypt (CBE) in 2014 to finance low- to middle-income housing. According to Ahmed Haggag, chairperson and managing director of Sakan Finance, said that the company completed the preparations for a new programme to …
Only 14 banks among 39 operating in Egypt participated in mortgage-financing initiative launched by CBE to finance low- to middle-income housing
These banks provided EGP 5bn to finance the purchase of 62,000 housing units since the launch of the initiative in February 2014
How did the ministries of finance, trade and industry weather 2016?
Amid the government’s ongoing commitment to its economic reform programme, Tarek Kabil and Amr El-Garhy’s ministries claimed several accomplishments over the past year. Daily News Egypt takes a look at how their actions measure up to need
$500m negotiations with Indonesia indicate Egypt not seeking finance from Gulf countries: expert
In order to finance its budget deficit, the Egyptian government is negotiating with Indonesia to borrow $500m by the end of first quarter of 2017, according to a Ministry of Finance source who preferred to remain anonymous. The negotiations show that Egypt is no longer seeking financing from the Gulf countries, after receiving billions of …
Emirates NBD launches specialised unit for financing SMEs in Egypt
Emirates NBD announced the establishment of a specialised unit for financing small- and medium-sized enterprises (SMEs) in the framework of its commitment to implement the instructions of the Central Bank of Egypt (CBE), besides the bank’s quest to expand in financing these projects. SMEs are one of the most important sectors that contribute to advancing …
14 banks inject EGP 4.1bn to finance low- and middle-income housing until end of October: Head of Mortgage Finance Fund
Financial leasing activity amounts to EGP 15bn during the first nine months of 2016, says EFSA Head
Joint ministerial committees to discuss taxes, subsidies, indebtedness auditing: Kouchouk
Decline in world oil prices saved EGP 27bn worth of fuel subsidies in last year’s budget
IMF, Egypt reach agreement on 3-year $12bn extended fund facility
CBE’s aim to move to flexible exchange rate will strengthen competitiveness, says head of IMF mission
Banque Du Caire allocates EGP 1.5bn to finance SMEs over 6 months: bank chairperson
SMEs define the future policy of the banking sector
The Brotherhood v 30 June: more debt to finance growth
Egyptian economy sees insufficient growth to improve quality of living, while government required to increase its resources
Expected regulations to resolve tax disputes
Government’s FY 2016/2017 budget draft estimates tax revenue of EGP 35bn from VAT and EGP 2.4 from property tax
Egypt’s credit risk increased with ailing economy: Moody’s Analytics
One-year External Default Frequency for Egyptian government debt increased from 0.09% in early October to 0.18%