Banque du Caire Chairperson and CEO Mounir El-Zahid said on Thursday that financing small and medium-sized enterprises (SMEs) represented a strategic priority for the bank in 2016. 

The SMEs are expected to drive development forward in Egypt as they create thousands of jobs, he added.

The bank expands its funding plans set for small and medium-sized projects to activate the Central Bank of Egypt’s initiative to finance economic and social development projects. 

The SMEs are expected to change the future of the banking sector in Egypt, Zahid reiterated.