The Small and Medium Enterprises (SMEs) loans portfolio at the Housing and Development Bank (HDB) has reached EGP 2.2bn by the end of the first half (H1) of this year, according to Fathy El-Sebai, chairperson and managing director (MD) of the bank. He revealed the bank’s intention to pump EGP 400m to finance SMEs in the coming period. “The Housing and Development Bank has signed a cooperation protocol with the Damietta Furniture Company to finance small clients’ projects in Damietta for furniture, machinery, equipment and production supplies. “The Housing and Development Bank has allocated EGP 30m to participate in all social support areas, especially health and education, which interest the bank significantly. “Since 2015, the bank has adopted a programme to honour students excelling in secondary school, technical education, blind students, and elementary school students around Egypt,” El-Sebai mentioned.

Source: Daily News Egypt October 28, 2018 06:56 UTC