Egypt's Health Minister reviews upgrades at Gustave Roussy Hospital    Giza Pyramids' interior lighting updated with new LED system    Suez Canal Bank partners with CRIF Egypt to advance sustainability through Synesgy    Russia hits Ukraine with huge barrage as first Australian tanks arrive    Russia unveils 'Kinzhal' interceptor drone to counter low-altitude threats    Lebanon's PM says US proposal includes full Israeli withdrawal, state control of arms    Saib reopens Mansoura branch after comprehensive renovation    ABE signs cooperation protocol to finance beneficiaries of state-owned lands in Minya    Sandoz Egypt introduces OMNITROPE 15mg biosimilar growth hormone for the treatment of short stature    Egypt After 2025: Navigating a Critical Inflection Point    Egypt's EHA, Huawei discuss enhanced digital health    Spot Gold, futures slips on Thursday, July 17th    Egypt, Oman discuss environmental cooperation    Egypt expresses condolences to Iraq over fire tragedy    Egyptian, Belarusian officials discuss drug registration, market access    Sri Lanka's expat remittances up in June '25    Egypt's Health Min. discusses drug localisation with Sandoz    EU–US trade talks enter 'decisive phase', German politician says    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, France FMs review Gaza ceasefire efforts, reconstruction    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    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.



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.