CAIRO – The Central Bank of Egypt (CBE) said on Monday the volume of credit facilities that were provided to micro, small and medium-sized enterprises as part of the guarantees program of the Credit Risk Guarantee Company reached 65.8 billion pounds by the end of January 2021.
In a report, the bank said the guarantees portfolio of the program reached 45.8 billion pounds.
The central bank said the program aims to encourage banks to expand granting facilities to micro, small and medium-sized enterprises to boost the national economy.
He said the value of existing guarantees in the clients’ guarantees portfolio amounted to EGP 40.7 billion at the end of January 2021, including 58.9-billion-pound credit facilities.
He said small enterprises accounted for 79.8% of the total existing guarantees followed by medium enterprises (19.2%).
The CBE said the industrial sector took the lion’s share of existing guarantees by 60.2% followed by the agricultural sector (15%), the service sector (11.2%), construction and building (9.2%) and finally the commercial sector (4.4 percent).
Geographically speaking, the Delta region took 38.4 percent of total guarantees followed by Greater Cairo (29.4%), Upper Egypt (18.8%), Alexandria (7.9%) and Canal cities (5.5%).
Guarantees offered to banks to provide credit facilities to women’s projects accounted for 5.85% of total guarantees by the end of January 2021, it said.