Credit Agricole Egypt allocates EGP 200m to finance medical sector

Credit Agricole Egypt has signed a cooperation protocol with UltraTeb to finance the health sector with EGP 200m. The agreement comes in accordance with the Central Bank of Egypt’s (CBE) initiative to support small and medium enterprises (SMEs) and limit the repercussions of the COVID-19 pandemic.

In an official ceremony, UltraTeb was launched as the first electronic platform for providing medical supplies, with innovative bank financing provided exclusively through Credit Agricole Egypt.

The protocol was signed by Wali Lotfy, Deputy Managing Director of Credit Agricole Bank, and Khaled Dabes, CEO of UltraTeb, in the presence of Nevine Shoukry, Head of Head of Proximity Banking at Credit Agricole, Yasmine Dabes, Chairperson of UltraTeb, and a number of senior officials in the bank and the company.