The official pricing reference index for financing medium-, small- and micro-enterprises was launched in Egypt on Sunday.
Financial Regulatory Authority (FRA) Chairman Mohamed Farid said the new system is on the authority’s website and is updated periodically, thus enabling the public to obtain accurate data for the total cost of financing.
This indicator is growing more important as the number of beneficiaries reached 3.9 million and was worth LE45.5 billion by end of July 2023.
On the index are listed funding rates for medium-, small- and micro-projects by all entities licensed by the Financial Regulatory Authority nationwide.
The new index also supports the authority’s vision to achieve transparency and improve the efficiency and competitiveness of the medium-, small- and micro-enterprise financing market.
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