Arab Finance: Emirates NBD Egypt has signed a new loan contract worth EGP 400 million with Alexandria Business Association (ABA) to expand the horizon of the latter’s microfinance services across the country, according to an emailed press release.

Under the deal, the ABA will be able to increase the volume of loans provided to small and micro enterprises, creating promising job opportunities for the most vulnerable groups, particularly in rural areas.

This will improve the livelihoods of rural population and, in turn, boost the country’s gross domestic product (GDP).

The deal aligns with the bank’s strategy to bolster financial inclusion and expedite the pace of development in Egypt.

Egyptian government denies requesting IMF’s 4th loan tranche increase to $2B Updated 11/12/2024 9:48:00 PM

Egypt to pay off $3M loans to Gulf banks in November Updated 11/7/2024 1:45:00 PM

Siraj Lighting, VESRA MEA to produce Honeywell lighting products in SCZONE Updated 11/5/2024 1:16:00 PM

Social Housing Fund secures EGP 50B loan from banking consortium Updated 11/5/2024 8:20:00 AM

Madbouly, IMF's Georgieva discuss economic partnership amid global challenges Updated 11/3/2024 3:30:00 PM