IFC and Banque MISR Expand Services to Egyptian Micro and Small Enterprises
Friday, April 22, 2005
The International Finance Corporation, the private sector arm of the World Bank Group, has signed an advisory services agreement with Banque Misr to extend the development of its micro and small enterprises operations to the bank?s branches in underserved areas of Egypt.
The advisory services will help Banque Misr provide micro and small enterprises with investment and working capital financing. Banque MISR will extend loans to entrepreneurs who are unable to expand their businesses because of poor access to bank financing. The program starts this month and will run for a year. It will be managed by IFC?s regional advisory services program, the Private Enterprise Partnership for the Middle East and North Africa (PEP-MENA).
Press release found here.