The Housing and Development Bank (HDB) pumped about EGP 56m into the “Your Project” programme meant to finance small-sized projects, according to assistant managing director for marketing and retail banking Ashraf El-Bassiouny. El-Bassiouny added that this funding was put through over a period of nearly seven months and benefited about 80 people. “Your Project” is a national initiative aimed to provide citizens, and young people in particular, with loans to establish their projects. This project is being implemented in cooperation between the Ministry of Local Development, the HDB, the National Bank of Egypt (NBE), Banque Misr, and the Egyptian Agricultural Bank. The loans that are offered in the framework of this project are worth between EGP 50,000-3m with an interest rate of 5%.

Source: Daily News Egypt December 03, 2016 18:46 UTC