NBE, SFD Ink Contract to Finance Micro Enterprises worth EGP75mn

By Salma Ayman On Jun 25, 2014

The National bank of Egypt (NBE) will be signing today a contract with Social Fund for Development (SFD) in order to finance micro enterprises worth EGP75 million.

Speaking to Amwal Al Ghad , Head of micro-enterprises financing sector at SFD Amany Youssef asserted that the contract aims relending the bank for NGOs to increase the spread of micro-finance enterprises.

NBE will provide the highest value among banks so as to finance micro enterprises up to EGP250.000 and some cases boost to EGP2million.

NBE is considered to be the first bank that relends from SFD with contracts exceeded more than EGP5 billion.