The Egyptian State along with the banking sector led by CBE have supported Small and Medium enterprises sector growth with 39.8 billio
06/09/2022
The United Bank
The Egyptian State along with the banking sector led by CBE have supported Small and Medium enterprises sector growth with 39.8 billion Egyptian Pounds, As per the MSME’s report
The United Bank as a key engine in the Small and Medium Enterprises sector growth.
A direct social and economic impact on Egyptian citizen.
Strategic partnership with MSME with a package of finance solutions, technical and technological support provided to SME sector.
Building up a productive culture, increasing the local output and improving its quality to launch national industries and maximize export volume.
Cairo: 6th of September, 2022
The United Bank announces that the Egyptian State along with the banking sector led by The CBE have supported Micro, Small and Medium enterprises sector growth, with a range of initiatives and intensified efforts and finance reaches to 39.8 billion Egyptian Pounds through the last 8 years. As mentioned in the report of the Micro, Small and Medium enterprises authority in the 1st of April 2022.
UB is one of the major drivers of developing SMEs sector, which is considered as one of the promising national economic sectors, as per Egyptian vision 2030. That’s have a direct impact on the economic level to improve the citizen’s standard of living. Besides, the social level, as a way to reduce the unemployment rate and enhance youth and women empowerment. As well as, the indirect impact which is reflected in developing the society’s infrastructure, and counteracting the illegal emigration and developing squatter areas.
A strategic partnership with the MSME through a package of funding solutions, technical and technological support
The United Bank has signed a package of agreements with the MSME to provide a set of specialized and innovative funding solutions. As well as, a package of high- quality digital solutions through the UB’s 68 branches all over the Republic. The thing that contributes to building productive culture, increasing the local output and improving its quality to launch national industries and maximize export volume in many different fields.
UB takes place as one of the major engines to create investment opportunities to SMEs sector, with the wide Egyptian state’s expansion, and the private sector. In order to promote investment and economic stimulus in this promising sector. This sector is considered as one of key corners to develop the Egyptian society and create an industrial and productive base.
UB stated that the solutions provided to develop SMEs including funding solutions, according to the initiative terms and conditions set by The CBE. As well as, a package of the technical services, such as: working on enhancing digital banking solutions to serve the integrated development purposes, especially the micro finance enterprises and expanding the financial inclusion base. Besides, providing funding solutions with digital services, like: the fast micro finance through the digital wallet, and payment through the wallet. In order to eliminate many social and economic problems, such as: unemployment, corruption and crimes, etc. Besides the effective role in merging the informal economy with the formal economy and improving the citizen’s life.
The United Bank also supports innovations and Egyptian youth in banking and even non-banking fields. Especially, those which are working out economic problems and maximize local production in important sectors in economic activities. That contributes to increasing Egyptian export volume, through Nile Pioneers initiative and support entrepreneurship and start-ups.
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