AlexBank secures USD10mn loan from SANAD for Egyptian MSMEs financing
Bank of Alexandria (AlexBank), a member of Italian bank Intesa Sanpaolo Group, has received an additional USD10mn from SANAD Fund for MSMEs, of the German state-run Kfw Development Bank. The new loan will be dedicated to supporting the bank’s financing for Egyptian MSMEs. AlexBank has a specialised SME department, in addition to SME business centres throughout Egypt that aim to increase outreach and access to finance for small businesses in the country. (Amwal Al Ghad)
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