Suez Canal Bank launches a new financing program in cooperation with

Iman Al-Wasili

In light of the Suez Canal Bank’s strategy to inject the necessary funds to the small and medium enterprises sector, as it represents its importance in increasing the growth rate of the gross domestic product and enhancing exports.

The Suez Canal Bank announced the launch of a new financing program “Daman”, with the aim of facilitating the access of small and medium-sized companies in the various governorates of the Republic to the necessary financing.

The bank said that it had signed a cooperation protocol with the Credit Risk Guarantee Company to participate in the launch of the new financing program that aims to provide job opportunities for young people at the level of Egypt’s governorates.The launch of the new product comes as a continuation of the role played by the Suez Canal Bank in supporting the Egyptian economy and advancing the social aspect and in light of the bank’s interest in promoting the activity of small and medium enterprises with the aim of increasing job opportunities for young people and in continuation of the support given by the state and the Central Bank of Egypt to the private sector, especially small and medium enterprises.

The Bank confirmed its keenness to speed up participation in this program, and accordingly the program was approved and the cases submitted by the Credit Risk Guarantee Company were approved and the approvals for exchange were issued. The initiative.

Hussein Rifai, Chairman and Managing Director, said that the main objective of the new financing program is to create real job opportunities for young people, as the program works to provide financing for targeted projects by expanding in existing companies or attracting new companies and thus creating new job opportunities, especially since the sector Small and medium enterprises are considered one of the most important factors in achieving sustainable development and help create job opportunities to face the problem of unemployment.He stressed that the beginning will be from Qena Governorate and then the rest of the governorates according to the bank’s network of branches spread in all governorates of the Republic, and the program aims to provide more than 37457 A thousand new job opportunities.

Hussein Rifai indicated the bank’s keenness to actively participate in all the initiatives of the Central Bank of Egypt, which contribute to promoting economic growth and revitalizing the production wheel. )

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