Egypt’s MSMEDA, AAIB bank sign EGP 150m deal to boost SME financing

Egypt’s Medium, Small, and Micro Enterprise Development Agency (MSMEDA) signed a 150 million Egyptian pound financing agreement with the Arab African International Bank (AAIB) on Thursday to expand support for small and medium enterprises (SMEs) across the country.

Under the deal, AAIB will channel the funds to both new and existing SMEs in all Egyptian governorates, with a special focus on start-ups and women-led businesses. Loans will be capped at 15 million pounds for small enterprises and 30 million pounds for medium ones.

The financing will cover working capital and the acquisition of new equipment, aligned with the agency’s criteria and development goals, according to a joint statement.

Tamer Wahid, vice chairman and managing director of AAIB, said the agreement reflects the bank’s commitment to launching innovative financial products and expanding digital services to accelerate SME growth and align with ongoing technological transformation in the financial sector.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser