Banque Misr began implementing the initiative recently launched by the Central Bank of Egypt (CBE) to support SMEs. Banque Misr announced that it started this week to put forward financing products dedicated to small businesses that have revenues ranging between EGP1 million and EGP20 million annually. The bank will finance these projects through a declining yield of 5% for all different activities and sectors through specialised units and branches located in all governorates. Banque Misr will also provide financial advisory support to foster SMEs development and growth. The CBE has recently instructed banks to increase lending to SMEs to reach c20% of their loan books in the next four year period. (The Daily News Egypt)