The SME Banking & Finance Egypt 2016, supported by the Egyptian Banking Institute, a part of the Central Bank of Egypt (CBE), and partnered by Bloomberg Businessweek Middle East, is the platform for top banking and financial professionals from the region to congregate and discuss strategies to support the Egyptian economy and promote SMEs.

This path-breaking event will outline CBE’s mandate to inject $25 billion to support small and medium businesses.

SMEs in Egypt account for more than 90% of the private sector and employ almost 65% of workforce. Long considered as the largest SME hub in the Middle East as per operating density and pure numbers, Egypt’s current economic challenge is forcing it to rebuild and reinforce this vital base.

Considering the dire need to promote SMEs market, the Central Bank of Egypt is focused on transforming the SME finance market in Egypt. It plans to provide a $25 billion stimulus package to fund over 350,000 SMEs over the next four years.

It has also launched a program that mandates banks to increase the percentage of loans offered to SMEs. Banks operating in Egypt are racing to implement programs offering better interest rates, longer payback periods and higher funding.