ANNOUNCEMENT 26 Sep 2017
The state-owned Egyptian Bank Banque Misr sign a cooperation protocol agreement with the Egyptian Pharmacists Syndicate in order to provide financing for the national pharmaceutical sector.
NUMBER OF INTERVENTIONS
Banque Misr. Arabic. 2017. بنك مصر يوقع بروتوكول تعاون مع نقابة صيادلة مصر لدعم نشاط تجارة الأدوية- http://www.banquemisr.com/ar/aboutus/press/pages/egyptian-pharmacists-syndicate-.aspx
Banque Misr. Banque Misr signs cooperation protocol with Egyptian Pharmacists Syndicate to support pharmaceutical trade activity
On 26 September 2017, Banque Misr signs a cooperation protocol agreement with the Syndicate of Egyptian Pharmacists.
This signed agreement establishes that Banque Misr will provide loans at a marginal rate of 5% to all local entrepreneurs seeking to set up a pharmaceutics-based business. In the official statement, it is highlighted that Banque Misr already provides similar financing schemes to local entrepreneurs from other sectors with which a collaboration has been established. The official statement, no details are provided concerning the financial amount that Banque Misr has dedicated to fund this financing scheme.
Banque Misr is one of the leading state-owned banking institutions of Egypt.
A state measure in the GTA database is assessed solely in terms of the extent to which its implementation affects the extent of discrimination against foreign commercial interests. On this metric, the state aid proposed here is discriminatory.