{"id":596932,"date":"2019-07-11T03:58:20","date_gmt":"2019-07-11T03:58:20","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/saudi-arabia-signs-egp-125-mn-worth-grants-to-support-smes-in-egypt\/"},"modified":"2019-07-11T03:58:20","modified_gmt":"2019-07-11T03:58:20","slug":"saudi-arabia-signs-egp-125-mn-worth-grants-to-support-smes-in-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/saudi-arabia-signs-egp-125-mn-worth-grants-to-support-smes-in-egypt\/","title":{"rendered":"Saudi Arabia signs EGP 125 mn-worth grants to support SMEs in Egypt"},"content":{"rendered":"<p><b>Saudi Arabia signs EGP 125 mn-worth agreements to support SMEs in Egypt:<\/b> The Saudi Arabia Development Fund signed three agreements worth EGP 125 mn to provide funding to SMEs through local microfinance firms EFG Hermes Leasing, Global Lease and UI Finance, the Investment Ministry <a href=\"http:\/\/www.miic.gov.eg\/Arabic\/MediaCenter\/News\/Pages\/-%D9%85%D8%B5%D8%B1-%D9%88%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D9%88%D9%82%D8%B9%D8%A7%D9%86-3-%D8%A7%D8%AA%D9%81%D8%A7%D9%82%D9%8A%D8%A7%D8%AA-%D9%84%D8%AA%D9%82%D8%AF%D9%8A%D9%85-%D8%AE%D8%AF%D9%85%D8%A7%D8%AA-%D8%A7%D9%84%D8%AA%D8%A3%D8%AC%D9%8A%D8%B1-%D8%A7%D9%84%D8%AA%D9%85%D9%88%D9%8A%D9%84%D9%89-%D9%84%D9%84%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D8%A7%D8%AA-%D8%A7%D9%84%D8%B5%D8%BA%D9%8A%D8%B1%D8%A9-%D9%88%D8%A7%D9%84%D9%85%D8%AA%D9%88%D8%B3%D8%B7%D8%A9-%D8%A8%D9%82%D9%8A%D9%85%D8%A9-125-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AC%D9%86%D9%8A%D9%87.aspx\">said in a statement<\/a>. The first agreement entails granting EGP 75 mn in funding to EFG Hermes under the condition it allocates 50% of the amount to the agriculture and livestock sector. The two other agreements entail granting Global Lease and UI Finance EGP 25 mn each to use them to support SMEs in the renewable energy, health, industrial, agriculture and livestock sectors in southern and Delta governorates.<\/p>\n<p><b>In other news from the kingdom: Egyptian exporters will now be required to use biodegradable plastic starting April 2020: <\/b>Saudi regulators will begin in April 2020 requiring Egyptian exporters to package goods bound for the Saudi market using biodegradable plastic, head of Chamber Of Chemical Industries\u2019 plastic division Khaled Abou El Makarem said, <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=10072019&id=afa6f3ea-fc79-49f0-9d01-bedb7ed0c774\">according to Al Shorouk<\/a>. Egyptian factories will have to bear the added cost of up to 4% to add the 'd2w' additive to the plastic.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Arabia signs EGP 125 mn-worth agreements to support SMEs in Egypt: The Saudi Arabia Development Fund signed three agreements worth EGP 125 mn to provide funding to SMEs through local microfinance firms EFG Hermes Leasing, Global Lease and UI Finance, the Investment Ministry said in a statement. The first agreement entails granting EGP 75 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9285],"tags":[168,2398,9080,72,7087,9354,219],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-596932","post","type-post","status-publish","format-standard","hentry","category-diplomacy-foreign-trade","tag-diplomacy","tag-diplomacy-foreign-trade","tag-efg-hermes-leasing","tag-enterpriseam","tag-finance","tag-global-lease","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"0adf1c6c-f462-4252-9c6b-fae7609d4e09","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[596908],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Saudi Arabia signs EGP 125 mn-worth grants to support SMEs in Egypt - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/saudi-arabia-signs-egp-125-mn-worth-grants-to-support-smes-in-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Saudi Arabia signs EGP 125 mn-worth grants to support SMEs in Egypt\" \/>\n<meta property=\"og:description\" content=\"Saudi Arabia signs EGP 125 mn-worth agreements to support SMEs in Egypt: The Saudi Arabia Development Fund signed three agreements worth EGP 125 mn to provide funding to SMEs through local microfinance firms EFG Hermes Leasing, Global Lease and UI Finance, the Investment Ministry said in a statement. The first agreement entails granting EGP 75 [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/saudi-arabia-signs-egp-125-mn-worth-grants-to-support-smes-in-egypt\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-07-11T03:58:20+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/saudi-arabia-signs-egp-125-mn-worth-grants-to-support-smes-in-egypt\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/saudi-arabia-signs-egp-125-mn-worth-grants-to-support-smes-in-egypt\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Saudi Arabia signs EGP 125 mn-worth grants to support SMEs in Egypt\",\"datePublished\":\"2019-07-11T03:58:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/saudi-arabia-signs-egp-125-mn-worth-grants-to-support-smes-in-egypt\/\"},\"wordCount\":194,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"DIPLOMACY\",\"Diplomacy + Foreign Trade\",\"EFG Hermes Leasing\",\"EnterpriseAM\",\"Finance\",\"Global Lease\",\"Saudi Arabia\"],\"articleSection\":[\"Diplomacy + Foreign Trade\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/saudi-arabia-signs-egp-125-mn-worth-grants-to-support-smes-in-egypt\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/saudi-arabia-signs-egp-125-mn-worth-grants-to-support-smes-in-egypt\/\",\"name\":\"Saudi Arabia signs EGP 125 mn-worth grants to support SMEs in Egypt - 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The two agreements are geared towards funding SMEs, the Saudi embassy in Cairo said in a statement (pdf).","rel":"","context":"In &quot;Diplomacy + Foreign Trade&quot;","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637244,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/12\/president-signs-off-on-loan-agreement-with-afesd\/","url_meta":{"origin":596932,"position":1},"title":"President signs off on loan agreement with AFESD","author":"enterpriseam admin","date":"12 November 2017","format":false,"excerpt":"President Abdel Fattah El Sisi signed off on two loan agreement to finance agricultural development in the Sinai worth KWD 110 mn, according to Egypt Today. The financing came from the Arab Fund for Economic and Social Development (AFESD).This comes as Egypt signed on Friday two agreements worth a combined\u2026","rel":"","context":"In &quot;Diplomacy + Foreign Trade&quot;","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":599551,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/02\/efg-hermes-hsbc-agree-to-make-available-egp-400-mn-in-financing-for-smes\/","url_meta":{"origin":596932,"position":2},"title":"EFG Hermes, HSBC agree to make available EGP 400 mn in financing for SMEs","author":"enterpriseam admin","date":"2 January 2019","format":false,"excerpt":"EFG Hermes Leasing and HSBC Egypt have agreed to allow SMEs access to EGP 400 mnin leasing and financing servicesduring 2019, according to an EFG statement. The agreement, aimed to provide SMEs with low interest rates as well as medium- and long-term funding to support both capex and cash flows,\u2026","rel":"","context":"In &quot;Other Business News of Note&quot;","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":572543,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/29\/egypt-obtains-egp-200-mn-sme-grant-from-saudi-arabia\/","url_meta":{"origin":596932,"position":3},"title":"Egypt obtains EGP 200 mn SME grant from Saudi Arabia","author":"enterpriseam admin","date":"29 June 2020","format":false,"excerpt":"KSA to give EGP 200 mn grant to five Egyptian MSMEs: Saudi Arabia will provide EGP 200 mn to finance five new micro, small, and medium enterprises in Egypt, International Cooperation Minister Rania Al Mashat said yesterday. The Agricultural Bank of Egypt will receive EGP 100 mn to finance a\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544872,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/valu-to-enter-saudi-arabia-in-1h2022\/","url_meta":{"origin":596932,"position":4},"title":"valU to enter Saudi Arabia in 1H2022","author":"enterpriseam admin","date":"24 March 2022","format":false,"excerpt":"EFG Hermes\u2019 consumer finance platform valU will set foot in Saudi Arabia before the end of 1H2022, marking its first cross-border expansion, EFG Hermes Finance CEO Walid Hassouna told Bloomberg Asharq. The fintech platform is also looking at the Moroccan and Tunisian markets in cooperation with EFG Hermes\u2019 e-payments subsidiary\u2026","rel":"","context":"In &quot;Finance&quot;","block_context":{"text":"Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":642912,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/24\/efg-hermes-leasing-elab-sign-egp-50-mn-agreement\/","url_meta":{"origin":596932,"position":5},"title":"EFG Hermes Leasing, ELAB sign EGP 50 mn agreement","author":"enterpriseam admin","date":"24 August 2017","format":false,"excerpt":"The Egyptian Arab Land Bank and EFG Hermes Leasing announced concluding a EGP 50 mn agreement to \u201cjointly offer leasing solutions for fixed assets to small businesses in Egypt.\u201d The agreement provides funding at low-interest-rate lease arrangements for small enterprises in Egypt and aims to capitalize on the central bank\u2019s\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/596932","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=596932"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/596932\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/596908"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=596932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=596932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=596932"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=596932"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=596932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}