HSBC Bank, Reefy Microfinance partner to provide US$9m for microbusinesses

EGYPT – HSBC Bank Egypt and Reefy Microfinance Enterprise Services, CI Capital Holding for Financial Investments’ microfinance subsidiary, have signed a collaborative agreement to provide EGP 150 million (US$9.56m) to microbusinesses in Egypt. As part of the agreement, microbusinesses will have access to long-term financing at a competitive interest rate. A total of one-third of the funding will be allocated to women-led small- and medium-sized enterprises (WSMEs). The agreement provides additional support to initiatives unveiled by the Egyptian Government and the Central Bank of Egypt (CBE) to boost the micro,…

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