France’s AFD allocates €50 mln to fund Egyptian women-led projects

France’s state development agency AFD plans to provide €50 million ($58.4 million) financing to support women-led projects in Egypt, an official in the Egyptian MSMEs authority said Monday.

“The Micro, Small, and Medium Enterprise Development Authority (MSMEDA) seeks to complete all the procedures required to attain the AFD financing, which will be entirely directed to women-led projects,” MSMEDA head Nevine Gamea told reporters.

The AFD has financed a number of projects, most notably small- and micro-financing projects for Egypt’s MSMEDA, along with the delivery of natural gas to houses and improvements to drinking water and sanitation services.

AFD is the French state’s development agency. Its mission is to implement in foreign countries and in French overseas territories financial operations supporting economic and social development.