Saudi grant for SME on-lending + new AI platform established to promote Egyptian AI scene

Two other things we’re keeping an eye on this morning:

• The Saudi government has provided three banks withan EGP 270 mn grant for on-lending to Egyptian micro, small and medium sized enterprises. Banque Misr will receive EGP 70 mn, the Industrial Development Bank will get EGP 100 mn, and Banque du Caire the remaining EGP 100 mn.
• The ICT Ministry has launched an artificial intelligence platform that showcases Egypt’s latest developments in the field of AI.