SFD Receives EGP 300 mln to finance Micro-Business

By Administrator On May 5, 2012

Social Fund for Development (SFD) signed EGP 300 million contracts to finance micro-enterprises in commercial, industrial and handwork sectors.

A contract has been signed with Banque Du Caire with a value of EGP 200 million while the other contract has been signed with the Egyptian Gulf Bank with EGP 100 million value.

Sources at SFD told Amwal Al Ghad that the finance will be disbursed during the current quarter. SFD plans expanding in financing micro-enterprises in the upcoming period.

Banque Du Caire raised the value of finance from EGP 100 million to EGP 200 million.

In addition, Banque Misr signed a finance contract with value of EGP 120 million with SFD to finance micro-enterprises.

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