January 9, 2016 / 10:15 AM / 2 years ago

Egypt's president Sisi launches loan program for SMEs

CAIRO, Jan 9 (Reuters) - Egypt's President Abdel Fattah al-Sisi said the banking sector will inject 200 billion Egyptian pounds ($25 billion) to support small and medium businesses.

"I have assigned the central bank to make the most of the banking sector to implement a comprehensive program to support small and medium businesses," Sisi said, adding that loans for small and medium businesses over the next four years will not be less than 20 percent of all loans issued.

$1 = 7.8300 Egyptian pounds Reporting by Asma Alsharif and Mostafa Hashem; Editing by Toby Chopra

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