Cairo, January 19, 2025- CIB, Egypt’s leading private-sector bank, has signed a strategic protocol agreement with MSMEDA to support SMEs. This partnership complements the government’s plan to boost the economy and increase exports. Furthermore, it supports CIB’s strategy to help business owners navigate market challenges and expand their businesses.

This partnership highlights CIB and MSMEDA’s dedication to nurturing entrepreneurship and driving economic growth. By offering crucial support to SMEs, this partnership aims to enhance their contribution to the country’s GDP and improve competitiveness in both domestic and international markets.

It will also help raise awareness of sustainable financing solutions through seminars and conferences that promote the circular economy and eco-friendly projects. Both parties are also creating a guide for financing SMEs, aligned with local and international standards, to support clients in adopting innovative technologies that minimize carbon emissions and maximize resource efficiency.

Commenting on the transaction, Mr. Amr El-Ganainy, Deputy CEO and Executive Board Member at CIB, said, "We are delighted to partner with MSMEDA, as this partnership underscores our commitment to supporting the Egyptian economy. Through financial and technical support, CIB aims to empower SMEs, enhance their competitiveness to increase local production, and open new export markets, enabling them to achieve sustainable development."

Rashwan Hammady, CEO Retail Banking & Financial Inclusion at CIB, said, “This partnership aims to create a supportive and dynamic work environment for SMEs by offering a complete range of financial and non-financial services. These services encompass accessible financing, tailored training programs, technical and administrative consultations, and digital platforms to connect clients with suppliers. Additionally, this partnership involves hosting networking events to foster communication between business owners and potential suppliers while providing flexible financing solutions and simplifying government processes to accelerate their growth.”

Bassel Rahmy, CEO of MSMEDA, stated, "This partnership represents a key move towards achieving the agency's mission to support entrepreneurs and foster the growth of their projects. With this collaboration, CIB will provide SMEs with the resources they need to expand both locally and internationally, thereby strengthening their contribution to the Egyptian economy."

The agreement was signed by Mr. Bassel Rahmy, CEO of MSMEDA, and Mr. Amr El-Ganainy, Deputy CEO and Executive Board Member at CIB. The event was attended by several prominent figures, including Mr. Rashwan Hammady, CEO of Retail Banking and Financial Inclusion at CIB; Mr. Yasser Abdella, Deputy CEO of Retail Banking; Mr. Hany El Dieb, Head of SME Business; Mr. Mohamed Medhat, Deputy CEO of MSMEDA; and Dr. Dalia El Mahmoudi, Head of Marketing and Communications at MSMEDA.