“There are 17 banks and three companies participating in the CBE’s initiative to finance [housing for] limited and medium-income [people]. There are negotiations to enter two new banks and another company within the initiative in the coming period,” said Mai Abdel Hamid, head of the MFF.
She explained that the number of beneficiaries of this initiative so far amounted to about 104,000 people, totalling EGP 9.2bn.
Abdel Hamid added that the fund has disbursed EGP 1.8bn to support the beneficiaries of the initiative since February 2014.
