CIB Signs EGP 100 Mln Deal With SFD To Finance Micro-enterprises

The Commercial International Bank (CIB) has signed a finance contract worth EGP 100 million with the Social Fund for Development (SFD) to finance micro-enterprises.

A source said the finance will be used to lend non-governmental organizations to create jobs all over the country with finance starting from EGP 1000.

This is the second finance agreement signed between CIB and SFD as they earlier signed a contract worth EGP 100 million to finance new and existing poultry small and medium-sized enterprises in all governorates in Egypt.

CIB puts financing micro- and small enterprises on the top of its priorities in the current period, he noted.

CIB plans to diversify its investments through financing micro-, small and medium enterprises as well as large companies, the source added.