Egypt, Kuwait eye deeper ties as leaders discuss trade, Gaza reconstruction    Egypt issues commemorative stamps to celebrate historic Grand Egyptian Museum opening    Egypt, US, UN discuss worsening crisis in Sudan's Darfur region    Egypt advances phase II of $2m AfDB-funded Lake Victoria–Med corridor project    Oil prices drop slightly on Thursday    US cuts China tariffs to 47%    Gold price rise on Thursday    Egypt urges ceasefire in Sudan as EU denounces RSF brutality after El-Fasher's capture    Finance Ministry introduces new VAT facilitations to support taxpayers    Egypt to launch national health tourism platform in push to become Global Medical Hub by 2030    Al-Ahram Chemicals invests $10m to establish formaldehyde, derivatives complex in Sokhna    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    CBE governor attends graduation ceremony of Future Leaders programme at EBI    Kuwaiti PM arrives in Cairo for talks to bolster economic ties    Counting Down to Grandeur: Grand Egyptian Museum Opens Its Doors This 1st November    Egypt, Medipha sign MoU to expand pharmaceutical compounding, therapeutic nutrition    Egypt establishes high-level committee, insurance fund to address medical errors    In pictures: New gold, silver coins celebrate the Grand Egyptian Museum    Pakistan-Afghanistan talks fail over militant safe havens    Sisi expands national support fund to include diplomats who died on duty    Al-Sisi reaffirms Egypt's commitment to religious freedom in meeting with World Council of Churches    Health Ministry outlines medical readiness for Grand Egyptian Museum opening 1 Nov.    Egypt becomes regional hub for health investment, innovation: Abdel Ghaffar    Madinaty Golf Club to host 104th Egyptian Open    LG Electronics Egypt expands local manufacturing, deepens integration of local components    Egypt medics pull off complex rescue of Spanish tourist in Sneferu's Bent Pyramid    Egypt Open Junior and Ladies Golf Championship concludes    Al-Sisi reviews final preparations for Grand Egyptian Museum opening    Egypt's PM reviews efforts to remove Nile River encroachments    Al-Sisi: Cairo to host Gaza reconstruction conference in November    Egypt will never relinquish historical Nile water rights, PM says    Al-Sisi, Burhan discuss efforts to end Sudan war, address Nile Dam dispute in Cairo talks    Syria releases preliminary results of first post-Assad parliament vote    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    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.



NBE, Local Development Ministry, Misr El Kheir sign protocol to support development projects in North Sinai
Protocol reflects NBE's interest in development by providing funding for SMEs, affirms Okasha
Hossam Mounir Published in Daily News Egypt on 10 - 01 - 2018

Hisham Okasha, chairperson of the National Bank of Egypt (NBE), Hisham El-Sherif, Minister of Local Development, and Misr El Kheir Chairperson Ali Gomaa signed a cooperation protocol aimed at providing job opportunities and achieving economic boom in North Sinai Governorate.
This protocol is implemented through supporting economic development projects in the town of Bir El-Abd and its surrounding villages. The supported projects operate in all sectors of economic activity, in particular agricultural projects such as livestock development projects, and industrial activity projects such as salt refineries.
According to El-Sherif, the signing of this protocol comes within the framework of efforts by the Ministry of Local Development to stimulate and encourage investments in the most underprivileged areas and implement the policy of land development for economic purposes, making it available to investors, and facilitate access to licenses, for the purpose of establishing urban complexes, through the establishment of micro, small, and medium enterprises.
According to Okasha,
the bank is focusing on transforming informal sector projects into the formal sector within the framework of an integrated work system, in cooperation with Misr El Kheir Foundation and its subsidiaries, which provides all the technical support and marketing of the products of these projects. Hence, the projects would have positive impact on the development of North Sinai and promote the area to make it attractive for further business.
Yehia Aboul Fotouh, vice chairperson of the NBE, said that the protocol confirms the role of NBE in supporting and financing SMEs in all economic activities in Bir El-Abd and the surrounding area.
Henoted that NBE's direct and indirect SMEs financing portfolio reached EGP 40bn, which was granted to some 59,000 projects. He added that the bank targets increasing the funding to EGP 100bn.
According to Gomaa, Misr Al Kheir Foundation and its subsidiaries are constantly striving to raise the standard of living of Egyptian society under the slogan "Human Development is our primary mission" by creating permanent jobs and helping to establish economic projects aimed at improving the economic and social situation, with a focus on sustainability.

Clic here to read the story from its source.