Cairo – Mubasher: Arabia Investments Holding (AIH) announced that its subsidiary UE Finance signed a loan agreement worth EGP 50 million with the Egyptian Micro, Small, and Medium Enterprise Development Agency (MSMEDA).
The facility is part of a logistics support programme for SMEs in Upper Egypt, the company said in a bourse disclosure on Thursday.
The total value of subsidised loans obtained by UE Finance from MSMEDA amounted to EGP 150 million.
It is worth mentioning that during the first quarter of 2020, AIH reported net profits of EGP 9.22 million, down from EGP 22.13 million in the prior-year period, including minority shareholders’ rights.
