SFD Targets To Increase Industrial Finances By 25% In 2013

The Social Fund for Development (SFD) has a strategy that focuses on financing small and medium-sized enterprises especially in Upper Egypt, said Ghada Wali, secretary general of SFD.

On the sidelines of signing the finance contracts with the Industrial Development and Workers Bank of Egypt, Wali added that the finances offered to the industrial sector accounted for 17% of SFD’s SME finance portfolio which was close to EGP 5 billion at the end of 2012.

SFD targets to increase the finances offered to industrial sector from 20% to 25% in 2013, she added. SFD has a diversified portfolio which offers finance to industrial sector, live stock production projects and services. SFD succeeded in financing new projects last year with a 12% increase.