SFD-Egypt Says EGP5bn Cumulative portfolio of Micro projects in October

Operations Manager of Micro Finance Sector at Social Fund for Development (SFD) Nevine Badreldin said the cumulative portfolio of micro projects estimated at EGP5 billion and about 1.5 million clients have benefited from it.

She added that the total outstanding portfolio of projects reached EGP500 million at the end of October, the number of benefited clients reached 235.000.

There are around 440 associations in which are currently dealing with SFD alongside only 4 banks, Badreldin emphasized.

Banque Du Caire has recently signed a contract with SFD worth EGP300 million in order to go for financing micro projects Funded by the World Bank.

Furthermore, this agreement comes in the frame cooperation between SFD and Banque Du caire that may valued at EGP500 million through financing contracts.