SFD funds $85.6mn in Egyptian Microenterprises in 6 Months

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Egypt’s Social Fund for Development (SFD) has contributed 670 million Egyptian pounds (US$85,6 million) to finance micro-sized projects in the first half this year, official from the fund said Wednesday.

Speaking to Amwal Al Ghad, Nevine Badreldin – Head of SFD for Microenterprises Sector, said the first half finances had served around 85,000 micro-sized projects.

SFD seeks to raise 1,2 billion pounds worth of total finances for the microenterprises sector by the end of 2015, Badreldin added.

SFD’s cumulative portfolio of financing microenterprises is estimated at 5.5 billion pounds approximately.