SFD Financed Small Enterprises Totaled EGP1.4 bln in 11 Months

Social Fund for Development (SFD)’s small-sized enterprises portfolio hit EGP 1.4 billion by the end of November, 2013, Amwal Al Ghad has quoted Nevine Gamea – Head of Central SME Sector at SFD – as saying on Monday.

She further stated that the SFD is targeting expansions to finance cooperative societies within the upcoming period, seeking to be re-borrowed to farmers and peasants.  SFD is also keen on having similar expansions in industrial activities.

Moreover,  Gamea noted that the SFD’s total finances likely to surpass EGP 1.5 billion by the end of the current year, versus total finances of EGP 1.350 attained by the end of 2012.

Egypt’s Social Fund for Development (SFD) is targeting loans worth US $ 300 million within next year  from the World Bank dedicated for the small and micro sized enterprises in Egypt. Secretary.

It is worth mentioning that the SFD and the EU will be signing within this week a framework agreement worth  € 70 million with the presence of the Egyptian Prime Minister Hazem el-Beblawi.