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Global Lease, MSME sign EGP 20m contract to support SMEs - Daily News Egypt

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Global Lease, MSME sign EGP 20m contract to support SMEs

They aim to support at least 20 clients with a minimum of EGP 50,000 and a maximum of EGP 1m

Global Lease leasing company signed a contract on Sunday with the Micro, Small, and Medium Enterprises Development Agency (MSME) worth EGP 20m to finance a number of small and medium enterprises.

CEO of MSME Niven Gamea said that her agency is keen on signing new protocols and memorandums of understanding with institutions, associations and serious financial leasing companies to expand granting small and medium enterprises funds and reach the largest number of small investors to achieve many economic and social goals, in terms of supporting work and production and providing thousands of jobs.

She added that the financing granted by Global Lease is only the first portion and is scheduled to be utilised in one year, noting her focus to expand the base of the agency’s intermediaries, diversify financing products, and all non-financial services offered to small enterprises.

According to Hatem Samir, CEO of Global Lease, the protocol signed is in line with his company’s plans and objectives to focus on supporting and financing small and medium enterprises, adding that these projects account for 35% of the Global Lease portfolio in the coming period.

He explained that the financing contract aims to attract at least 20 clients, with a minimum funding of EGP 50,000 and a maximum of EGP 1m.

He pointed out that the company aims, through the contract, to finance companies wishing to implement or develop small and medium enterprises, in line with the objectives and conditions of the agency, pointing out that the company is studying the feasibility of projects submitted and the status of solvency of the proposing companies.

He pointed out that the company is currently developing a sector for the financing of small and medium enterprises, under the auspices of Sanad Fund, which is one of the company’s shareholders, noting that these projects are amongst the most important sectors that leasing companies focus on financing.

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