Egypt’s SFD says financed 11,000 small projects in New Valley since 1992

Egypt’s Social Fund for Development (SFD) has financed around 11,000 small and micro-sized projects in New Valley governorate since the start of its activities in the country in 1992 until late May 2016.

New Valley governorate is located in the southwestern part of the country, about 600 kilometres (372.8 miles) south west of Cairo.

Since then, the Egyptian fund has pumped finances totalling 144.5 million Egyptian pounds ($16.3 million), contributing to the creation of around 19,000 job opportunities in the governorate, said SFD’s secretary-general Soha Soliman on Monday.

This comes in addition to grants worth 56.5 million pounds designated to finance labour intensive infrastructure and community development projects in addition to training schemes in the governorate, which helped contribute around 7,000 job opportunities, Soliman added.