Arab Finance: The non-banking financial services provider GlobalCorp has signed a cooperation protocol with the Micro, Small and Medium Enterprises Development Agency (MSMEDA) to secure an EGP 450 million financing over three years, as per a press release.
GlobalCorp will receive the financing in many stages, with an annual provision of EGP 150 million, equivalent to EGP 75 million every six months.
“The new protocol contributes to enhancing GlobalCorp’s capabilities to support small, medium, and micro enterprises, which contribute to the development of the National economy,” Hatem Samir, Chairman of GlobalCorp, commented.