SFD Egypt: SME projects in Upper Egypt are top priority in 2016

Egypt’s Social Fund for Development (SFD) is to focus more on funding small and medium-sized (SME) projects in the Upper Egypt region as pursuant to its 2016 strategy, said secretary-general Soha Soliman.

Soliman made her remarks following an EU delegation’s visit to the SFD-financed projects in Luxor city.

The size of disbursed loans have reached 398.8 million Egyptian pounds (US$51 million) to serve 44,527 small and micro-sized projects that create around 68,234 job opportunities, the SFD official added.

SFD was established by presidential decree 40/1991 as a socio-economic safety net to combat unemployment, alleviate poverty, improve living conditions and help attain comprehensive socio-economic development.