The United Bank (UB) signed a joint cooperation agreement with Tanmeyah Micro Enterprise Services to fund micro-enterprises across Egypt, according to Vice Chairman and Managing Director of UB Amr Maher.
The total value of the joint cooperation agreement has been set at EGP 200m.
This will be done through programmes for micro-enterprises and for funding small-sized companies, starting from EGP 1,000 and up to EGP 200,000. The fund will rely on a number of factors, some of which are the size of the project, number of employees, capital, and the final product. It will provide different and facilitated payment techniques starting from four months and going up to three years.
Maher added that the agreement between UB and Tanmeyah is within UB and the state’s constant pursuit to offer all financial and technical services to the small-sized and micro-enterprises sector.