Housing & Development Bank, SFD-Egypt prep for new microfinance contract

Egypt’s Social Fund for Development (SFD) is to sign in the coming few days a new financing contract with the Housing and Development Bank (HDB) designated for micro-sized projects.

The contract is worth 25 million Egyptian pounds ($2.8 million) and will be directed to all the firms and associations working in the microfinancing field in Egypt, Nevine Badreldin – Acting Head of Central Sector for Microfinancing – said on Monday.