Arab Finance: Suez Canal Bank and Oliv signed a credit facility agreement valued at EGP 30 million to support Egypt’s small and medium-sized enterprises (SMEs), according to a statement.

This step comes as part of the bank’s objectives to boost the SME sector, which is a key pillar of economic growth and job creation in Egypt.

It reflects the lender’s efforts to empower SMEs with fast and flexible financing solutions that enhance their ability to manage cash flow, expand their operations, and overcome working capital challenges.

Oliv is the first Egyptian company licensed by the Financial Regulatory Authority (FRA) to provide digital factoring services, and focuses on serving SMEs.

The company offers a fully digital invoice financing product, enabling SMEs to access working capital funding within 48 hours.

Last September, the European Bank for Reconstruction and Development (EBRD), Green Climate Fund (GCF), and the EU signed their first financing package with Suez Canal Bank at a total value of $50 million (€42.6 million).

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