Environment agency, FEI, NBE sign EGP 7 mn facilitated loans agreement for SMEs

The National Bank of Egypt signed an agreement with the Environmental Affairs Authority and Federation of Egyptian Industries yesterday that will see it extend facilitated loans to SMEs to help them comply with environmental standards, Al Masry Al Youm reports. The bank will offer loans of up to EGP 7 mn that can be repaid in instalments over 1-5 years at what appears to be zero interest but with administrative fees of 3.5%.