Arab Finance: The Micro, Small and Medium Enterprises Development Agency (MSMEDA) has signed a memorandum of understanding (MoU) with the National Bank of Kuwait-Egypt (NBK-Egypt) to promote financial inclusion, as per a statement.

The MoU also aims to introduce the bank’s clients to the services provided by MSMEDA to support enterprises.

On a separate note, MSMEDA has inked a financing contract worth EGP 75 million with BM Lease to fund new and existing medium- and small-sized enterprises under the financial leasing system all over the country.

The minimum financing amount for a single project is EGP 250,000, with a maximum of EGP 15 million for small projects and EGP 30 million for medium ones.

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