Banks provided financing estimated at EGP17bn for SMEs and micro enterprises from January until September 2016 through 15,000 projects financed, according to Lobna Helal, deputy Governor of the Central Bank of Egypt (CBE). Helal explained that the funding was part of an initiative launched by the CBE in early 2016 in order to enhance the economy. She noted that the SMEs loan portfolio has achieved a growth rate of 24% during 9M16. Gamal Negm, deputy Governor of the CBE, announced that the new certificates recently issued by the bank for the period of three years with an annual return of 16%, and for the period of 18 months with an annual return of 20%, having attracted new deposits from outside the banking system valued at EGP64bn. (The Daily News Egypt)