SFD Finances Franchises With US$ 40 Mln

The Social Fund for Development (SFD) will finance franchise projects with US$ 40 million earlier secured from the African Development Bank, said Ghada Wali, secretary general of SFD.

Franchise projects play a key role in creating job opportunities for youth amid the current high unemployment rate, she added.

Wali revealed that SFD plans to launch a gateway to finance franchises in collaboration with the National Bank of Egypt (NBE), Bank Audi Egypt and Industrial Development and Workers Bank of Egypt.

Through this gateway, the owners of franchises will be able to secure finance from the three banks or directly from SFD, she added.