China Development Bank has recently disbursed a dedicated loan of $76.5 million to bolster the growth of small and medium-sized enterprises across Africa, the bank said in a news release on Wednesday.
The loan, which is provided to the National Bank of Egypt, will provide financial support to 94 SMEs operating in 8 sectors, including manufacturing and transportation, the bank said.
CDB has cumulatively disbursed $3.36 billion in targeted financing through this initiative since 2009, which has benefited 33 African countries and helped create over 270,000 local jobs, the bank added.
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