Egypt’s construction federation to launch initiative for young contractors in 2016

Egyptian Federation for Construction and Building Contractors (EFCBC) is mulling the possibility of launching an initiative to support young contractors in cooperation with the Social Fund for Development (SFD) by the end of the current year.

Mohamed Lokma, the federation board member, said that EFCBC addressed SFD to secure fund for young contractors during the current period so as to promote this segment which would reflect positively on the local market. In addition, the latter has approved all the former’s suggestions to back the young contractors.

He added that young contractors segment include around 7000 contractors who face challenges related to their business in the local market.