Within the framework of the state’s orientation towards expanding the use of natural gas as a fuel alternative to diesel to rationalize energy and achieve optimal use of the state’s natural resources and the efforts and initiatives of the Central Bank to expand financing small projects

The Housing and Development Bank signed a joint cooperation protocol with the Ministry of Supply and Internal Trade. The protocol was signed by Dr. Ali Moselhi, Minister of Supply and Internal Trade, and Hassan Ghanem, Chairman and Managing Director of the Housing and Development Bank, in the presence of a number of bank and ministry leaders.

This cooperation aims to provide the necessary funds to the owners of bakeries in all governorates of the Republic within the framework of the initiative to finance small projects at a return price of 5% decreasing, to contribute to the costs of replacing natural gas as a clean and safe fuel to preserve the environment as an alternative to diesel.

This initiative aims to finance nearly 30,000 bakeries nationwide to convert to natural gas in accordance with international quality standards, and the implementation of the first phase will begin with the conversion of 5,625 bakeries.

Hassan Ghanem expressed his pride in the bank's participation in this initiative, which is one of the most important national initiatives, and emphasizes the positive role of the banking sector in supporting national projects, and the banking system will always remain an effective partner in achieving economic growth and sustainable development in accordance with the directives of the Central Bank.