By : Ali Eldeeb – Ibrahim Ahmed
The Central bank of Egypt (CBE) has extended the deadline for banks to dedicate 25% of their loan and credit portfolios for financing micro-, small-, and medium-sized enterprises (MSME) for another year that ends on December 31st, 2023. As per the decision, the banks shall also direct 10% of these portfolios to finance companies and small-sized enterprises. This comes as per the circular letter dated February 22nd, 2021, obliging banks to increase their portfolios of loans and credit facilities for MSME by 25%, of which 10% shall be directed to finance companies and small-sized enterprises.
