Banque Misr has financed a number of companies operating in the cotton sector with EGP 1.3bn for the 2018/19 season. According to a statement issued by the bank, the funding was not only limited to companies in the public sector, but also extended to private companies. Banque Misr stressed it is one of the largest banks financing and supporting the cotton sector, accounting, alone for 26% of the total production value of cotton this season. As a result, Banque Misr provided the required funding to companies operating in this sector to preserve the quality and strength of Egyptian seed. According to the bank, between July 2017 and the end of June 2018, it managed to arrange, contribute, and fund 18 transactions worth EGP 113bn.

Source: Daily News Egypt October 28, 2018 00:33 UTC