National Bank of Egypt (NBE) is planning to complete pumping EGP3bn financing allocated for the mortgage finance initiative by the end of 2017. The bank has managed to pump EGP1.3bn so far through the Central Bank of Egypt (CBE)’s initiative launched back in 2014. According to an official at NBE, the bank is on a steady path to funding the mortgage sector and will be able to complete pumping the EGP3bn funds allocated for the initiative. Some 13,000 low income customers have benefited from the EGP1.3bn financing provided by NBE in several new urban communities including 6th of October and the Tenth of Ramadan. (Al Mal)