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Bank of Egypt boosts key economic sectors with $53 million injection

Bank of Egypt boosts key economic sectors with $53 million injection

Banque du Caire aims to inject more than $53 million in a number of economic sectors during 2017. These sectors include transportation, logistics, construction, industry, food, and commodities.

According to a statement released by the bank, the bank arranged a number of syndicated loans for various economic sectors worth about $476 million during 2016.

Oil, electricity, food industries, real estate, and construction sectors were the main sectors in which the bank was keen to fund during 2016.

Banque du Caire granted credit facilities amounting to $14 million until November 2016 to a variety of sectors and activities, including automotive, medical supplies, financial leasing, technology services, and aviation, according to the bank.

The bank succeeded in attracting new customers from various sectors, including pharmaceutical, mills, chemicals, electricity, and building materials. The bank grants them credit facilities worth $111 million

The bank also increased credit facility limits given to clients by $43 million, and it is currently granting the necessary approvals for new customers to get credit facilities worth $9 million

In terms of micro-, small- and medium-sized enterprises, the bank explained that the loans portfolio of these projects reached approximately $159 million pointing out that the bank pumped more than $79000 in loans to the owners of small- and micro-sized enterprises valued at $582 million.

www.banqueducaire.com

 

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