US May retail sales sluggish    US Fed sees hope for rate cuts as inflation shows signs of easing    Exploring Riyadh's Historical Sites and Cultural Gems    URGENT: US PPI declines by 0.2% in May    Singapore offers refiners carbon tax rebates for '24, '25    HSBC named Egypt's Best Bank for Diversity, Inclusion by Euromoney    G7 agrees on $50b Ukraine loan from frozen Russian assets    EU dairy faces China tariff threat    Over 12,000 Egyptian pilgrims receive medical care during Hajj: Health Ministry    Egypt's rise as global logistics hub takes centre stage at New Development Bank Seminar    MSMEDA, EABA sign MoU to offer new marketing opportunities for Egyptian SMEs in Africa    Blinken addresses Hamas ceasefire counterproposal, future governance plans for Gaza    Egypt's President Al-Sisi, Equatorial Guinea's Vice President discuss bilateral cooperation, regional Issues    Egypt's Higher Education Minister pledges deeper cooperation with BRICS at Kazan Summit    Egypt's Water Research, Space Agencies join forces to tackle water challenges    Gaza death toll rises to 37,164, injuries hit 84,832 amid ongoing Israeli attacks    BRICS Skate Cup: Skateboarders from Egypt, 22 nations gather in Russia    Pharaohs Edge Out Burkina Faso in World Cup qualifiers Thriller    Egypt's EDA, Zambia sign collaboration pact    Madinaty Sports Club hosts successful 4th Qadya MMA Championship    Amwal Al Ghad Awards 2024 announces Entrepreneurs of the Year    Egyptian President asks Madbouly to form new government, outlines priorities    Egypt's President assigns Madbouly to form new government    Egypt and Tanzania discuss water cooperation    Grand Egyptian Museum opening: Madbouly reviews final preparations    Madinaty's inaugural Skydiving event boosts sports tourism appeal    Tunisia's President Saied reshuffles cabinet amidst political tension    Egypt to build 58 hospitals by '25    Swiss freeze on Russian assets dwindles to $6.36b in '23    Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    Debt swaps could unlock $100b for climate action    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



IDWBE Considers Granting EGP20 mln Loan to ABA for Micro-Projects
Mohamed Hamdy Published in Amwal Al Ghad on 03 - 02 - 2014

Industrial Development &Workers Bank of Egypt (IDWBE) is considering granting Alexandria Business Association (ABA) loan worth EGP20 million in order to re-lending in micro sized projects.
Hamdi Azzam – Executive Board Member at IDWBE said the main purpose from the financing is to make the best use of customers base and for the bank's expansion in micro sized projects.
He explained that the bank pumped EGP25 million in favor of Assiut Business Association (ASBA) during the last year in order to re-financing for micro projects.
The total IDWBE's funds for micro and medium sized projects reached EGP450 million within 2013 compared to EGP350 million in 2012-end.
The bank is aiming to obtain fresh financing package for these projects after getting EGP100 million divided to contract worth EGP75 million for the current account in debtor, and to launch new one with EGP25 million for livestock and foodstuff projects in the light of the bank's expansion for financing the sector.

Clic here to read the story from its source.