Egypt’s SFD Gets EGP11bn Loans and Grants in 2014

The total value of loans and grants obtained by Egypt’s Social Fund for Development (SFD) reached EGP11 billion during 2014, distributed as EGP8.5 billion loans and EGP2.5 billion grants, SFD’s Secretary-General Soha Soliman said.

In statements to Amwal  Al Ghad on Thursday, Soliman added that the bank contracted with banks and the benefited parties worth EGP6 billion in the last year and it was agreed to pay EGP5 billion from the total value of amounts.

The total value of small , medium and micro-finance projects portfolio reached EGP3.2 billion at the end of 2014 and the fund is aiming to increase it to EGP4 billion this year.