The United Bank grants financing more than 3 thousand Egyptian projects

12/10/2020

During its participation in the exhibition of "Turathena" for handicrafts and patrimony

The United Bank grants financing more than 3 thousand Egyptian projects with a financial and technical package for small and micro projects.

 

Ashraf El Kady - Chairman of The United Bank

  • Qualifying handicrafts and patrimonial products contribute in reducing unemployment rates.
  • Handicrafts the second largest economic sector after agriculture in terms of the number of workers in Egypt.
  • Egypt is the first in the middle east region in the field of handicrafts.
  • The efforts of the state, The Central Bank and The United Bank to revive the Egyptian cultural identity.
  • The policy of linking technical education with the requirements of the labor market.
  • Banking and technical solutions from The United Bank for micro-projects.

 

Cairo: 12 October 2020

 

Ashraf El Kady - Chairman of The United Bank - said during the bank's participation in the activities of the exhibition of "Turathena" (Our Patrimony) for handicrafts and patrimonial products in its second session - that The United Bank offers a package of micro and small financing for more than 3 thousand projects in Egypt and include them in the formal economy; in order to preserve the Egyptian cultural identity and contribute in eliminating the unemployment rates and to achieve the financial inclusion.

 

Handicrafts is the second largest economic sector after agriculture in terms of number of workers.

El-Kady noted that the handicrafts sector is one of the second largest economic sectors after the agricultural sector in Egypt in terms of the number of workers. Egypt also is one of the first countries in the middle east region in the field of handicrafts and patrimonial industries. This contributed to the creation of a valuable patrimony and a different Egyptian cultural identity from the rest of the cultures in the region.

 

Egypt is the first in the middle east region in the field of handicrafts.

Ashraf El-Kady explained that "Turathena" exhibition for handicrafts and patrimonial products is a great opportunity as a commercial, cultural and artistic meeting place that serves the patrimonial and manual projects sector, as the exhibition contributes in providing an opportunity for art and handicraft lovers to purchase these products at competitive price because the sale is made directly from the factory’s owner to the visitor.

 

El-Kady added that Egypt is famous for its copper work, loom, tent and tent fabrics, and handmade carpets. Egypt has a wide range of skilled artists that their production invades the local and international markets.

 

Efforts of the state, The Central Bank and The United Bank to revive the Egyptian cultural identity

Ashraf El-Kady expressed that the Egyptian state is adopting development strategy for this promising sector through the small, medium and micro projects development agency, as well as establishing a data bank for the handicraft industries sector. It also communicates with the concerned authorities and organizations to provide free advisory services to manufacturers, and also financial institutions and banks to provide the necessary financing, as well as developing their management skills through workshops to prepare a feasibility study, as well as their marketing skills.

 

The policy of linking technical education with the requirements of the labor market.

El-Kady pointed out the importance of the state’s policy in linking technical education with the requirements of the labor market which provides an opportunity for the handicraft sector to grow and maximize its role in the national economy and contribute in reducing the unemployment rates.

 

The characteristics of the micro-project

The micro-project does not require large capital, complex or high-quality infrastructure in addition to its production requirements, it is simple. It depends primarily on self-skills and individual capabilities. Also, these types of projects contribute in enhancing the role of women, youths and handicaps, and thus achieving financial inclusion and developing the national economy.

 

Banking and technical solutions from the United Bank for micro-projects.

The United Bank offers, through its stand, a package of micro-finance, which is corresponds to the nature of the various activities of the exhibitors, whether commercial, industrial, service, or craft, through simple procedures. The customer can obtain the necessary financing for his project from the 65 branches network of the United Bank spread throughout the republic.

 

Also, The United Bank offers a set of technical support programs for customers of the micro-projects finance in the form of specialized training courses in management, raising the technical competence of the project, and banking qualification for the project, as well as qualification for entrepreneurship on the basis for good project marketing.

 

This is in addition to a package of distinguished electronic banking solutions under the name of "Your Bank Online", which works 24 hours a day, 7 days a week, to enlighten the customers about digital payment methods such as mobile banking, internet banking, digital wallets and ATMs, aiming to save customers' time and effort, as well as the complete security in financial transactions.

 

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