Motaz El Tabaa , the Executive Director of the Alexandria Business Association(ABA) said ABA intends to boost its Cumulative credit portfolio for microfinance to EGP5 billion by the end of next March. ABA targets pumping new financing worth EGP1.2 billion during the current year against EGP850 million in the last year, El Tabaa said. He explained that the association granted more than 312 thousand loans so that the clients base increased by 266.000 clients during the past year. ABA finalized renewing credit facilities with Bank of Alexandria (Intesa San Polo) worth EGP95 million in addition to facilities with EGP90 million from the National Bank of Egypt (NBE) for financing micro projects.
