CIB, SHMFF cooperate to offer EGP 3B mortgage finance to low, medium-income citizens

Updated 1/17/2024 11:30:00 AM
CIB, SHMFF cooperate to offer EGP 3B mortgage finance to low, medium-income citizens

Arab Finance: Egypt's Social Housing and Mortgage Finance Fund (SHMFF) has signed a cooperation protocol with the Commercial International Bank (CIB) to offer an EGP 3 billion mortgage finance to low and medium-income citizens, a statement showed.

The financing will be directed toward low and medium-income citizens applying for residential units offered by the fund under the Housing for All Egyptians presidential initiative, SHMFF’ CEO Mai Abdel Hamid said.

This brings the total financing provided by the CBE to low and medium-income citizens to EGP 7 billion, she added.

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