Cairo – Mubahser: Egyptian Financial Group Hermes Holding (EFG Hermes) has signed a joint cooperation agreement worth EGP 50 million with the Egyptian Arab Land Bank (EALB) to fund fixed assets and small enterprises.

EFG Hermes said in a statement on Wednesday that the deal aims to bolster firms and small enterprises through providing their projects with a low interest rate.

This agreement is part of EALB's and EFG Hermes' plans to support the Central Bank of Egypt’s (CBE) initiative.