Egypt’s MSMEDA, Banque du Caire ink EGP 400m deal for SMEs

Egypt’s small and medium enterprise development agency (MSMEDA) signed on Tuesday a new financing agreement worth 400 million Egyptian pounds with Banque du Caire to support small and medium enterprises across all governorates.

Basil Rahmy, CEO of MSMEDA, praised the ongoing collaboration with Banque du Caire, noting that previous agreements between the two parties exceeded 5 billion Egyptian pounds, including 28 contracts to finance small enterprises worth 507 million Egyptian pounds and 20 contracts for microfinance totalling 4.5 billion Egyptian pounds.

Rahmy added that the new agreement will leverage the bank’s extensive branch network to provide financing for industrial and productive projects, entrepreneurship, and information technology, in line with the state’s strategy to empower local products and create sustainable job opportunities for youth.

The partnership reflects the strategic commitment of both the Agency and Banque du Caire to the SME sector as a key driver of development. By combining technical support with a broad financing network, the initiative aims to enhance entrepreneurs’ competitiveness, ensure sustainable growth, and support the country’s economic and social objectives.

Attribution: Amwal Al Ghad English