Banque du Caire increased its lending to SMEs by 23% to EGP 11 bn during 1H2020, Chairman Tarek Fayed said in a statement on Monday, Hapi Journal reports. The state-owned bank has been working with the European Investment Bank to channel finance to SMEs after the multilateral lender signed off on a EUR 90 mn credit line in April. The bank also increased its microlending by EGP 192 mn during the six-month period, bringing the total size of the portfolio to EGP 7.16 bn by 1 July, Fayed added.

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