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Banque Misr launches training program to raise awareness among entrepreneurs

Stemming from its pioneering role in supporting the Egyptian economy and SMEs, Banque Misr launched the first training program for customers and investors in Alexandria, in cooperation with a company specialized in investments.

The program addresses how to market product and create a sales plan, in addition to other topics regarding administrative aspects of projects, as well as discussing the problems facing customers in their established projects. The training program made available information aiming to help entrepreneurs in achieving the greatest benefit from invested capital, and minimizing risk.

The idea of designing the specialized program to train customers of the bank's SMEs services and entrepreneurs is an inseparable part of the support system for SMEs adopted by Banque Misr through its active participation in the Central Bank of Egypt's initiative to support SMEs. The program aims to encourage young people to launch SMEs and to actualize the entrepreneurial culture on a tangible scale. The central bank initiative is expected to combat unemployment and increase local production, which will in turn affect the economic indicators and achieve sustainable economic development.

Further, Banque Misr finances SMEs through its numerous branches spread nationwide, in a number of industrial, agricultural, and service fields. The total portfolio set for SMEs at the bank amounted to EGP 4.4 billion in June 2017.

Banque Misr also participated in the Ministry of Local Development's program, entitled Mashrou'ak, aiming to finance micro and small enterprises through the single-window system in the 308 local units spread across the nation. The bank is present in 238 of these units, at 77% coverage, as of 26/03/2015. Further, the total value of the loans provided to micro-enterprises amounted to EGP 1.3 billion for 58,634 customers as of 30/06/2017.

Moreover, Banque Misr is committed to following up with its customers regularly and providing consultations and aid to them, to help them succeed and progress. This stems from the bank's belief that SMEs are the driving force of economic development.