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"Banque Misr signs cooperation protocol with GE Healthcare to support the medical system's development in Egypt"

Cairo, Egypt; September 26th, 2018: Based on the mutual commitment towards supporting sustainable development in Egypt, 'Banque Misr' and 'GE Healthcare' announced the signing of cooperation agreement to fund hospitals and clinics to purchase medical equipment.

Both Akef ElMaghraby the bank's Vice Chairman and Amr Kandil the General Manager - GE Healthcare Northeast Africa signed the agreement, in the presence of Sherif Elbehery the Head of SMEs and Microfinance at Banque Misr, Yasmin Khattab the Senior Vice President -Industrial Finance at GE Capital and other leaders from both the bank and GE.

This protocol makes it easy for healthcare companies, hospitals and clinics to obtain required fund , to purchase modern medical equipment from 'GE Healthcare' which will thus enhances the efficiency of operations .

"Customers' needs change and evolve over time, and the modern technology that our company provides is no longer able to cope with these needs alone. Customers want alternative financing mechanisms to help them reach long-term sustainable results in healthcare. And we are pleased to cooperate with Banque Misr, which is one of Egypt's leading financial institutions, to provide innovative financing solutions that help emerging clinics and hospitals develop and expand their business, thereby providing better healthcare to more patients across Egypt." Said Amr Kandil the General Manager - GE Healthcare Northeast Africa.

GE Healthcare partnership with governmental and private sectors extends to more than 40 years; where it has more than 15,000 healthcare technologies installed across Egypt to help bring better health to more people.

GE Healthcare - Egypt follows an integrated approach that combines offering appropriate technologies for the community and the creation of new business models. GE aims at promoting entrepreneurship, developing skills and education, providing access to alternative financing mechanisms as well as strengthening cooperation with government and different sectors.

 "Aiming at maintaining a leading role in pushing the economic and social development wheel and contributing in developing the society; Banque Misr is always keen to support SME's and thus offering new job opportunities and increasing the GDP.  Our cooperation with GE Healthcare allows hospitals and medical centers in Egypt to obtain the needed finance for purchasing modern medical devices on favorable terms and thus helping them in offering high quality health care, expanding and achieving sustainable growth" Vice Chairman of Banque Misr, Mr. Akef El Maghraby said.

Banque Misr consistently supports entrepreneurs, and those who play an important role in the economy development. In addition, the bank offers various funding programs that fit all the financing needs in the form of short and medium-term loans, in addition to providing letters of credit and letters of guarantee services through specialized units in the bank branches located in all governorates.

Stemming from its pioneering role as a national bank in supporting the Egyptian economy and achieving sustainable growth, BM offers great importance to small enterprises for its important role in economic development as well as providing non-traditional services and tools to facilitate access to finance.