|
 Chairman of the Industrial Development Authority (IDA), Eng. Amr Assal signed on December 30, 2007 a cooperation protocol with the Blom Bank Egypt Board Member and Managing Director Mr. Alaa Samaha. Assal assured that the protocol is aimed at fulfilling the requisites of industrial growth and development through an integrated financing and crediting system provided by the bank for the industrial projects approved by IDA, with the aim of raising the industrial growth rate, creating job opportunities to encounter the unemployment problem and enhancing the competitive advantages of Egyptian industry.
The protocol is one of a series of protocols signed by
IDA with banks and other financial institutions, such as
the National Bank of Egypt, the Egyptian Federation of
Banks, the Social Fund for Development, Credit Guarantee
Company for Small & Medium Scale Enterprises, Bank of
Alexandria and Industrial Development Bank; to encourage
industrial investment and disseminate the thought of
free work.
In order to activate the protocol - previously signed with the Egyptian Federation of Banks, the Federation of Egyptian Industries, the Industrial Modernization Center and the Social Fund for Development to cooperate together to implement the government's plan for developing Upper Egypt governorates
-
a conference is expected to be held so as to achieve the industrial coordination and integration between the projects existing in Upper Egypt and the major factories, in addition to exploring and solving the problems of Upper Egypt investors and formulating a role to be played by financing institutions to support industrial projects, plus acquainting investors with the available financing programs.
|