Attijariwafa Bank Egypt and Global Lease Company have signed a joint protocol to support the small and medium-sized enterprises (SMEs), through financing the capital expansions and providing financial leasing services.
Under this protocol, Attijariwafa Bank will focus on regulating, financing, and collecting the agreed instalments, while Global Lease will act as the lessor and collateral agent in finance leases.
The protocol is part of the Central Bank of Egypt’s (CBE) loan initiatives directed to fund SMEs, as directed by the CBE.
The portfolio of leased assets includes a variety of sectors, including lands, buildings, commercial vehicles, production lines, and machinery.
The protocol targets various sectors and industries, including petrochemicals, electronics, iron and steel, solar energy, pharmaceutical, information technology, construction materials, logistics, food and beverages, as well as education.
Ever since the establishment of Attijariwafa Bank in Egypt, it was keen to leave a mark on the economy’s growth, as well as to support all people, especially SMEs,” said Halla Sakr, the managing director of Attijariwafa Bank.
She added that this protocol is a true reflection of the bank’s strategy and its full support to the policy of financial inclusion, as well as its active role in the field of economies and investments, in line with the directives of CBE.
For his part, Hatem Samer, the CEO and managing director of Global Lease, stressed that the company adopts a balanced strategy that relies on a diverse portfolio distributed on many activities and sectors to limit risks and cover all activities, especially with the developmental measures that the Egyptian economy is witnessing across several sectors.