|16 January, 2020

NBE pumps funds into 18k agricultural projects

The bank’s portfolio for direct and indirect small and medium projects injected funds into around 74,000 projects

People and vehicles are seen in front of the National Bank of Egypt (NBE) in the Fifth Settlement districts of New Cairo.

People and vehicles are seen in front of the National Bank of Egypt (NBE) in the Fifth Settlement districts of New Cairo.

REUTERS/Amr Dalsh

Cairo – Mubasher: The National Bank of Egypt (NBE) has pumped EGP 8 billion into 18,000 agricultural projects, chairman Hisham Okasha stated on Wednesday.

The bank’s portfolio for direct and indirect small and medium projects reached EGP 64 billion which were injected into around 74,000 projects, the top official added.

In November 2019, the NBE’s retail CEO Alaa Farouk unveiled plans to invest EGP 15 billion into its retail banking portfolio during the fiscal year 2019/2020.

Source: Mubasher

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