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Housing & Development to Lend to Small Businesses, Al Mal Says

Housing & Development Bank, an Egyptian lender, plans to offer loans to small and medium businesses in 2011, Al Mal newspaper reported, citing deputy chairman Essam Abo Hamed.

The bank will offer financing ranging from 10,000 Egyptian pounds ($1,728) to 5 million pounds, targeting companies in information technology, farming and food production, the Cairo- based business daily cited Abo Hamed as saying.

Editors: Inal Ersan, Claudia Maedler.

To contact the reporter on this story: Ahmed A Namatalla in Cairo at anamatalla@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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