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Nasser Social Bank increases nursery funding limit
The Social Nasser Bank has raised the maximum funding limit for daycare centers to one million Egyptian pounds, with the aim of supporting daycare owners in developing and expanding their facilities and in adapting to regulatory requirements. Additionally, it facilitates financing for establishing new daycare centers. This initiative aims to enhance the bank's role in financing small and micro-enterprise projects, especially those related to the care and development of children, in line with the state's efforts to improve early childhood services. The financing offers an interest rate of 5% annually, with repayment periods ranging from one to four years and a grace period of up to three months. The borrower must be between 21 and 65 years old, and must provide necessary documents such as the daycare license and a feasibility study for the project. This financing reflects the bank's commitment to supporting socially impactful projects and creating employment opportunities, thereby contributing to the improvement of child care services across the country.
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