SFD: Banque Du Caire plans new Contract to Support Microenterprises in Egypt

Social Fund for Development and Banque Du Caire are due to sign this year a new contract to support micro businesses in Egypt, SFD official said on Wednesday.

According to Nevine Badreldin – Head of SFD for Microenterprises Sector, the anticipated contract will be at value of 300 million Egyptian pounds (US$41.1 million), designated to fund micro projects in Egypt within the current year.

Badreldin further referred to two former contracts signed between SFD and Banque Du Caire totalling 500 million pounds.

In the same vein, Mohamed Mashhour – Executive Board Director at Banque Du Caire – told Amwal Al Ghad on Tuesday that his bank captures around 42% market share in terms of providing loans for microenterprises in Egypt.