Egypt to receive USD200 million grant from Saudi Arabia for SMEs
Saudi Arabia will grant Egypt USD200 million for financing small and medium enterprises (SMEs), reported news website Aswat Masriya on Thursday, citing Egyptian international cooperation minister Sahar Nasr. The government will allocate EGP250 million (USD32 million) from the grant to SMEs in Sinai governorate and the rest will be distributed in the governorates with the highest unemployment rates, said Nasr. The grant will be disbursed to investors as loans through the Central Bank's recently implemented regulations. (ahramonline)
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