By: Islam Fadl
Cairo - Mubasher: The Agricultural Bank of Egypt (ABE) is targeting to raise its small and medium sized enterprises (SMEs) portfolio to EGP 40 billion by the end of fiscal year 2018-2019.
The head of the SMEs department, Hussien Abdulbaset told Mubasher on Wednesday that the portfolio reached EGP 25 billion by the end of July.
The bank is also looking forward to pump new investments of around EGP 200 million before the end of 2018, financed by the Micro, Small and Medium Enterprises Development Agency (MSME), from which the bank has obtained EGP 450 million in two years.
ABE is also working to facilitate finances of EGP 50 million.
Translated by: Moslem Ali