Redcon Construction has signed a EGP 625 mn syndicated loan agreement with the National Bank of Egypt and Qatar National Bank to help finance the construction of several towers in New Alamein, according to Al Mal. The company was originally seeking a EGP 1.7 bn loan from the banks, according to reports last year.

The Micro, Small and Medium Enterprise Development Agency (MSMEDA) has signed a EGP 500 mn agreement with Banque Misr to provide micro financing to SMEs, according to a statement (pdf). The initiative will provide EGP 50k loans to some 33k small and micro projects, Trade and Industry Minister Nevine Gamea said.

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