The agreement was signed at the bank’s headquarters by Bassel Rahmy, CEO of MSMEDA, and Akef El Maghraby, CEO and Managing Director of Suez Canal Bank.
The financing is part of a Ministry of Finance initiative to
encourage small and medium enterprises (SMEs) to expand into global markets.
According to the agreement loans will prioritize industrial
and productive SMEs, particularly those focused on exporting. Small projects
can receive up to EGP 30 million, while medium-sized enterprises are eligible
for up to EGP 60 million. Funds will cover machinery, production lines, raw
materials, training programs, and the procurement of quality certifications.
Bassel Rahmy emphasized that the partnership focuses on
decentralizing development, with a specific mandate to support entrepreneurs in
Upper Egypt and border governorates, alongside a strong focus on women’s
economic empowerment.
"We are working to localize production and deepen the
domestic component of industrial projects to increase their competitiveness in
target markets," Rahmy stated.
Akef El Maghraby highlighted Suez Canal Bank’s commitment to
modernizing SME lending through its digital platform, "Click," which
simplifies the application process.
"This cooperation reflects the state’s dedication to
providing multifaceted support to this vital sector, enabling it to compete
internationally," El Maghraby said. He added that the bank is focused on
delivering innovative financial solutions that align with Egypt Vision 2030.
Established in 1978, Suez Canal Bank is an Egyptian joint-stock company with an authorized capital of EGP 10 billion and a paid-in capital of EGP 6.5 billion. The bank operates a network of 55 branches across Egypt and a representative office in Libya, offering a full suite of corporate and retail banking services, including Islamic banking.