SFD injects $236mln for Egypt’s Small, Micro Projects end May

Egypt’s Social Fund for Development’s total funds (SFD) for small and micro- enterprises reached EGP1.8 billion (US$ 235.8 million) at the end of May 2015, Nevine Gamea – Head of SFD’s Central Sector for Small Enterprise Finance- said on Sunday.

She clarified that SFD intends to ink new contract worth EGP 100 million with Nasser Social Bank within the upcoming days to finance microbus project in collaboration with Cairo Governorate.

The head also noted that SFD is negotiating with three leasing firms on singing new contracts; at maximum EGP25 million for one contract.

Moreover, SFD’s estimated budget for 2015 targets financing small enterprises with total EGP5.7 billion as well as funding micro enterprises with EGP1.6 billion, Gamea stated.