EIB and Banque Misr partner to support SMEs

by WAYA Staff - Jul 7, 2022

The European Investment Bank (EIB) and Banque Misr partnered to further strengthen their support for SME lending and increase financing for companies in sectors most impacted by the COVID 19 pandemic. This will be done through two new technical assistance programs.

The first technical assistance programme will further strengthen credit risk management and adoption of SME financing best practices to enable Banque Misr to increase financing for smaller companies.

The second initiative will enable Banque Misr to better identify bankable sustainable private sector investment projects and develop new financial products targeted for SMEs. This will enhance support for sectors most impacted by the COVID-19 pandemic and is part of the EU Trade and Competitiveness Programme.

“Banque Misr and the European Investment Bank are supporting transformational private sector investment by Egyptian companies across the country. It is an honour to welcome Vice President Vigliotti and the EIB team to Banque MIsr headquarters. The two new technical assistance programmes agreed today will enable even stronger support for business investment and enable smaller companies to growth, create jobs and harness new business opportunities,” Akef El Maghraby, Banque Misr Vice Chairman, said.

If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.

Suez Canal generates $7b: Highest annual revenue in its history

by Amira Gamil - Jul 6, 2022

After 153 years of its operation, the Suez Canal reached its highest ever revenues at a value of 7 billion dollars. This 20.7% increase in revenues, as compared to the fiscal year 2020/2021, is due to the increase in the...

Amazon to let Prime users unsubscribe in 2 Clicks after EU complaints

by WAYA Staff - Jul 6, 2022

After facing pushback from the European Union, Amazon has decided to allow its customers in Europe to cancel their Prime memberships in just two clicks. The decision follows complaints from EU consumer groups that Amazon’s cancellation process had “complicated navigation...

Coinbase denies selling customer data to the US government

by WAYA Staff - Jul 6, 2022

Coinbase, a prominent crypto exchange platform, has denied recent reports alleging that the company is selling user data to the United States Immigration and Customs Enforcement (ICE), an agency that works under the country’s Department of Homeland Security. The reports...

Dubai Land Department and Emirates NBD partner to digitalize rental payments

by WAYA Staff - Jul 6, 2022

Dubai Land Department and Emirates NBD have collaborated to automate and digitize all rental payments in Dubai in line with the efforts of The Dubai Paperless Strategy. Instead of issuing cheques, tenants and real-estate owners will now be making direct...