Egypt’s IDWBE Gets First Tranche of SFD’s Loan to Finance Small Bakeries

Egypt’s Industrial Development & Workers Bank (IDWBE) received Thursday the first tranche of its loan agreement with the Egyptian Social Fund for Development (SFD).

Out of total loan agreement of EGP 35 million, the bank has received the first tranche amounting to EGP 8.750 million, said IDWBE’s Executive Board Member Hamdi Azzam.

The Egyptian official further noted that the first tranche will go for financing the diversion of 30 partially-automated bakeries into fully automated systems.

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