Jul 08 2012
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Egypt's IDW Bank allocates EGP500m for SME financing
The bank will disburse these loans through a fund it set up in October 2011 with EGP 140 million. It will add EGP 160 million to this fund this month and another EGP 200 million by the end of the year, chairman and managing director El-Sayed El-Kosayer said. The bank targets financing of 235 SMEs by the end of 2012, he said.
Industrial Development's SME loan portfolio currently stands at EGP 1.8 billion, from EGP 1.2 billion in October 2011.
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