Banque Misr, SFD Ink New Contract Worth EGP100mn for Micro Projects

By Salma Ayman On Sep 11, 2014

Banque Misr has signed new contract with Social Fund for Development (SFD) worth EGP100 million for financing micro projects.

Head of SFD’s for Micro Enterprise Finance- Nevine Badr said the value of loan distributes into EGP70 million for financing agricultural projects and EGP30 million for financing all projects.

In statements to Amwal Al Ghad, Badr explained that the total value of SFD’s transactions with Banque Misr reached to EGP326 million.

Moreover, the fund signed yesterday 5 contracts so as to support and develop micro projects with a number of NGOs in Behaira, Gharbia, Aswan and Qena worth EGP6.9 million.