Minister of Military Production Mohamed Al-Assar met with Governor of the Central Bank of Egypt (CBE) Tarek Amer and with chairpersons of Banque Misr, National Bank of Egypt (NBE), Industrial Development & Workers Bank of Egypt (IDWBE), and Export Development Bank of Egypt to discuss how the banking sector can support Egyptian industries. He pointed out that the plan of the ministry during the coming period focuses on increasing the exploitation of available capacities. Al-Assar revealed a number of these projects, where Egyptian banks can play a role in implementing through funding. Amer said that public banks are serving as the locomotive for local development and manufacturing to take advantage of the monetary reforms and the large growth potential of the Egyptian market. “This is the hope for sustainable development, financial stability and protection of the economy from shocks,” he argued.

Source: Daily News Egypt September 30, 2017 15:56 UTC