SFD to Launch an Initiative to Allure More Support for Egypt’s SMEs

Egypt’s Social Fund for Development (SFD) plans to launch an initiative to encourage banks to support small and medium-sized enterprises in Egypt.

SFD’s initiative will be in cooperation with the National Bank of Egypt (NBE), said SFD’s secretary general Soha Soliman.

The official further told Amwal Al Ghad that SFD seeks to raise awareness among banks about the importance of supporting the small projects in Egypt.

SFD currently deals with around 11 banks, and started talks with additional 4 banks so as to cooperate in supporting the small projects in the coming phase, Soliman elaborated.

Furthermore, Soliman referred to NBE’s pioneering role in backing small and medium-sized enterprises in Egypt.