ICEC

SFD Egypt says financed 9,295 small projects in six months

Egypt’s Social Fund for Development (SFD) says it had pumped 994.3 million Egyptian pounds ($112 million) to finance around 9,295 small projects throughout the first half of the year.

Those projects have provided around 26,135 job opportunities, said SFD’s secretary-general Soha Soliman on Wednesday.

Out of 994.3 million pounds, there were 717.3 million pounds SFD secured from financial institutions, in favour of 6,316 projects, which in turn contributed to the creation of around 18,461 jobs.

Since inception in 1992 with a mandate to reduce poverty, the Egyptian Social Fund for Development has pumped more than 20 billion pounds to support national economy.

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