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FINANCIAL NEWS
Egypt’s MFF to spend EGP10bn from CBE’s enterprise
03 Jan 2017
(MENAFN) The Mortgage Finance Fund (MFF) plans to finish financing EGP10bn by mid-2017 as a first phase of the initiative of the Central Bank of Egypt to activate the real estate sector.
Meanwhile, the fund has provided financing worth EGP1.1bn of support to almost 59.000 customers in the social financing for low income individuals” project.
Almost 200.000 units were finished and are being allocated to customers who applied for the project amid the banks part in the enterprise launched by the CBE.
The financing was distributed amid 14 banks that provided financing to almost 59.000 clients, involving EGP1.8bn to the Housing and Development Bank.
M
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