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NBE obtains $52.5m loan from Sanad Fund

NBE obtains $52.5m loan from Sanad Fund
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Cairo - Mubasher: SANAD Fund for MSME has granted a $52.5 million loan to the National Bank of Egypt (NBE) to finance micro, small and medium enterprises (MSME), according to the regional manager of Finance in Motion.

Mohamed Morsy, the country head for Egypt, told Mubasher on Tuesday that the fund is currently considering five financial institutions for finances between $50 and 70 million.

 The bank will also pump $5 million to Banque De Cairo (Cairo Bank), as well as $5 million to the Export Development Bank (EBE).

Meanwhile, Global Lease will obtain $1.5 million by the end of the year.