{"id":320762,"date":"2021-01-26T08:35:40","date_gmt":"2021-01-26T08:35:40","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=320762"},"modified":"2021-01-26T08:35:40","modified_gmt":"2021-01-26T08:35:40","slug":"cib-egypt-bank-city-edge-sign-egp-1-billion-mortgage-protocol","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/01\/26\/cib-egypt-bank-city-edge-sign-egp-1-billion-mortgage-protocol\/","title":{"rendered":"CIB Egypt Bank, City Edge sign EGP 1 billion mortgage protocol"},"content":{"rendered":"<p>Egyptian property developer, City Edge Developments has signed a cooperation protocol with the Commercial International Bank (CIB Egypt) for 1 billion Egyptian pounds ($63.4 million), the company said in a statement on Monday.<\/p>\n<p>The protocol is part of the Central Bank of Egypt\u2019s mortgage finance initiative for middle-income citizens, meant to support the real estate sector to expand projects that will have an economic impact in employment, GDP, and the economy.<\/p>\n<p>City Edge added that it hopes to expand into offering mortgage financing programmes to serve the state\u2019s sustainable development strategy &#8211; Egypt&#8217;s Vision 2030, which aims to facilitate the supply of affordable homes.<\/p>\n<p>The protocol was signed by Mohamed El-Mikawi, chief executive officer of City Edge, and Amr\u200b El Ganainy, chief executive officer for Institutional Banking at CIB.<\/p>\n<p>\u201cThe protocol aims to enable more clients to benefit from the CBE\u2019s mortgage finance initiative.\u201d Ashraf Salman, City Edge chairman, said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egyptian property developer, City Edge Developments has signed a cooperation protocol with the Commercial International Bank (CIB Egypt) for 1 billion Egyptian pounds ($63.4 million), the company said in a statement on Monday.<\/p>\n","protected":false},"author":4,"featured_media":320003,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[69],"class_list":["post-320762","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-commercial-international-bank"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - 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