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Hussein Refai, CEO and Managing Director of the Industrial Development Bank, affirmed during his speech at the 18th edition of the "People and Banks" conference that industry is one of the fundamental pillars for achieving sustainable economic growth. He emphasized that Egyptian banks play a vital role in supporting the industrial sector, especially at this critical stage, as industry remains a cornerstone for driving sustainable economic development.

The Industrial Sector Accounts for 17% of Banks’ Credit Portfolios.
He added that banks prioritize the industrial sector, which currently represents 17% of the total credit portfolios of banks, according to data from the Central Bank of Egypt. 

The role of banks focuses on creating a suitable environment for industrial expansion through innovative financing tools and strategic partnerships with the private sector and government. Among the most important tools is soft financing, aimed at enhancing industrial companies' ability to expand and modernize their production processes. Banks also provide the necessary funding to improve competitiveness and attract foreign investment, which adds value both domestically and internationally. Additionally, banks are working on developing specialized financing programs to support small and medium-sized enterprises (SMEs), which are considered one of the pillars of the local economy. There is also a focus on developing digital solutions for financial inclusion to expand service reach to a broader customer base, including entrepreneurs and youth, with the aim of integrating the informal sector into the formal economy.

The Backbone of Sustainable Development
Refai pointed out that his bank firmly believes the industrial sector is the backbone of sustainable development and increasing national productivity. To achieve this, the bank has launched several innovative financing programs and tools, such as flexible financing for small and medium-sized projects, with about 40% of the bank's portfolio dedicated to supporting SMEs.

Transition to a Green Economy
He added that in addition to direct financing, the bank works on building strategic partnerships with governmental and private entities, such as cooperation with the Industrial Development Authority to develop industrial complexes and finance manufacturing projects. The bank also adopts the transition to a green economy and finances projects with environmental and social impacts. Special support is provided for sustainable projects, including renewable energy programs, where the bank has funded solar energy projects and energy efficiency initiatives.