SFD Eyes EGP90mln for Activating Franchise Contracts with 3 Banks

By Salma Ayman On May 11, 2014

Social Fund for Development (SFD) is targeting activating 3 franchise contracts with the National Bank of Egypt (NBE), Industrial Development and Workers Bank of Egypt (IDWBE) and Audi bank with EGP90million , Hanaa Al Hilali, Secretary General of (SFD) said.

Al Hilali quoted Amwal Al Ghad that the contracts divide into EGP50million contract with NBE ,EGP30million with IDWBE and EGP10million for Audi bank.

SFD will sign contract with the United bank with EGP50million during the ongoing period for financing small projects, Al Hilali added.

Meanwhile, SFD pumped EGP613million within the first quarter of the current year for small and micro projects, EGP351.6million for small projects for 2100 projects and EGP38.749 thousands projects with EGP201million, in addition to pumping EGP61.2million for infrastructure.