BDAC Negotiates With SFD Over EGP 100 Mln Contract

By Administrator On May 20, 2012

Bank for Development and Agricultural Credit (BDAC) is negotiating with Social Fund for Development (SFD) over signing a finance contract next month to finance micro-enterprises.

Sources at SFD said the value of the contract is expected to be from EGP 50 million to EGP 100 million.

Essam El-Korashy, head of SMEs development at Social Fund for Development, earlier said that the Fund is negotiating with BDAC over signing contracts with value ranging from EGP 100 million to EGP 150 million to finance micro-enterprises in commercial, industrial and artisan sectors.

SFD signed 18 contracts with value of EGP 7.8 million with non-governmental organizations (NGOs) in five governorates to finance micro-enterprises.