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FINANCIAL NEWS
United Bank allocates EGP120mn to finance SMEs in Egypt
29 Mar 2017
(MENAFN) The United Bank collected EGP120mn from the Social Fund for Development (SFD) to re-direct the funds for the financing of small and medium enterprises (SMEs).
Meanwhile, Chairperson of the Bank inked the sixth deal of a series of agreements between both parties, enhancing the size of funding obtained from the fund to EGP395mn.
Furthermore, the signing of the deal is part of the state’s framework to maximize the benefit of SMEs in the Sustainable Development Plan 2030.
In addition, the loan will be allocated to finance existing and new SMEs in all areas and fields to buy equipment and tools to launch their projects.
MENAFN2903201700450000ID1095352046
MENAFN2903201700450000ID1095352046
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