Egypt is determined to continue in supporting its youth and prepare them to achieve a better future for the country, said President Abdel Fattah El Sisi in a tweet to mark the celebration of World Youth Day, August12, 2019.
Since he cane to power in 2014, he has presented many projects and achievements for young people as fellow:
10 feddabs for every young Egyptian
In 2016, President El Sisi offered a gift to youth announcing that half a million feddans of the 1.5 million feddans project would be offered to small and large investors. And that the opportunity is there for every young Egyptian to get 10 feddans in installments at an interest rate of 5% with the shortening of procedures and getting the title deed immediately.
At the Egyptian Youth Festival in 2016, President Abdel Fattah El Sisi announced that the banking sector will provide soft loans for youth with interest not exceeding 5% to help them starting small businesses and encourage them to self-employment, by injecting 200 billion pounds to support youth projects and create jobs for nearly 4 million people.
Banks provide loans :
National Bank of Egypt:
The Bank provides two types of loans:
The first loan is up to 50,000 LE and the finance period is up to 5 years including a maximum grace year, and the interest rate is 10% per annum for the facilities up to 50,000 LE.
The second loan is greater than 50,000 LE, the finance period is up to 5 years including a maximum grace year, and the interest rate is 10% per annum for the facilities up to 2 million LE, besides special interest rates for more amounts.
The Bank's micro-credit programs target all microenterprises clients of activities (commercial, industrial, and service).
- Payment period of small loans ranges from 4 months to 3 years.
Loan tranches for micro-credit programs are divided into 8 tranches:
- From one thousand to ten thousand pounds.
- From 10 thousand to 15 thousand pounds.
- From 15 thousand to 20 thousand pounds.
- From 20 thousand to 25 thousand pounds.
- From 25 thousand to 35 thousand pounds.
- From 35 thousand to 50 thousand pounds.
- From 50 thousand to 65 thousand pounds.
- From 65 thousand to 75 thousand pounds.
Financing all types of individual establishments, persons’ companies, and funds in all activities, whether industrial, commercial, service or self-employed, as well as environmentally friendly activities.
Financing is provided through short and medium term loans to finance working capital and to finance new and used domestic and imported machinery and equipment.
Medium-term loans range from 50,000 to 2 million pounds to finance existing activities.
The medium-term loan for new projects ranges from 50,000 to 250,000 pounds.
Medium term loans are paid in monthly or quarterly installments at competitive interest rates.
Bank of Alexandria
The Bank finances micro-entrepreneurs for whom run small businesses that are at least one year old.
Housing and Development Bank
The Bank provides funds for Medium-Sized Enterprises at attractive rates of return to establish new projects, assist existing projects to develop and expand, and provide permanent jobs to increase production and income.
Funding may be granted for the purchase of assets and equipment or completion of construction works, it also may also be granted for the purposes of the working capital cycle (financing of the current activity)