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NBE, Holdipharma sign cooperation protocol to finance pharmacies - Daily News Egypt

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NBE, Holdipharma sign cooperation protocol to finance pharmacies

Bank’s SMEs portfolio amounts to about EGP 64bn, benefiting 74,000 projects, targeting EGP 100bn in 2020, says Aboul Fotouh

Yehia Aboul Fotouh, vice chairperson of the National Bank of Egypt (NBE), and Mohamed Abdel Samad, chairperson and managing director of Holdipharma for Marketing & Export, signed a cooperation protocol to finance pharmacies, medical centres, hospitals, laboratories, and radiology centres, which fall under the umbrella of small and medium-sized enterprises (SMEs).

The protocol will secure necessary financing for the purchase of pharmaceuticals, medical equipment, and chemicals provided by Holdipharma, while ensuring the speedy implementation of these projects.

Holdipharma for Marketing & Export is a subsidiary of the Holding Company for Pharmaceuticals, Chemicals, and Medical Supplies, which helps the company’s customers of pharmacies, hospitals, laboratories, and others to obtain the necessary financing for their projects.

Meanwhile, Aboul Fotouh said that the bank’s portfolio of direct and indirect SMEs loans amounted to about EGP 64bn, benefiting about 74,000 projects, which are planned to increase to EGP 100bn by the end of next year.

For his part, Ahmed Hegazy, chairperson of Holding Company for Pharmaceuticals, said the cooperation with the NBE would help his company to implement its ambitious plan to develop its pharmaceutical companies.

For his part, Abdel Samad said that the protocol strengthens the commitment of the holding company and its subsidiaries to provide the best medical products and services to its clients.

He pointed out that the number of pharmacies dealing with Holdipharma amounts to 30,000, while the sales of its subsidiary El Gomhouria Co. for Trading Chemicals & Medical Appliances reached EGP 4.2bn.

Topics: HoldiPharma NBE

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