SFD-Egypt Pumps EGP1.3bn Finance for Small Projects in 9 Months

Social Fund for Development (SFD) pumped EGP1.3 billion finance for small projects in the first 9 months of this year in the form of direct and indirect finance through associations and banks.

On her part, Nevine Gamea Head of SFD’s Small Central enterprise Finance said the fund is aiming to register EGP1.630 billion finance by the end of the current year.

SFD is seeking to sign two contracts with Housing and Development Bank (HDB) worth EGP60 million and it divided into one contract with EGP40 million and the other with EGP20 million, along with Société Arabe Internationale de Banque (SAIB)’s contract with EGP60 million.

SFD has recently signed a contract with National Bank of Egypt (NBE) estimated at EGP300 million by finance from World Bank in order to finance the current account debtor.