To be renewed twice for a total term of 36 months, the loan will be divided into a one-year Working Capital Structure (WCS) for up to $50 million, which is in addition to a trade finance facility of up to $5 million to Al Baraka Bank Egypt
To support local and women-owned micro, small, and medium-sized enterprises (MSMEs), Al Baraka Bank is considering a loan worth $55 from the International Finance Corporation (IFC), the latter announced.
To be renewed twice for a total term of 36 months, the loan will be divided into a one-year Working Capital Structure (WCS) for up to $50 million, which is in addition to a trade finance facility of up to $5 million to Al Baraka Bank Egypt.
As the matter is still being studied by both sides, no final agreement has been reached yet.
Al Baraka Bank, established in 1980, offers retail, corporate, treasury, and investment banking services that are applied in accordance with the principles of the Islamic Sharia. It contributes to the financing of small and medium enterprises (SMEs).
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