SFD Injects EGP20bln in Egypt’s Economy Since Its Inception

By Salma Ayman On May 12, 2014

Social Fund for Development (SFD) has pumped more than EGP20billion in the arteries of the Egyptian economy since its inception in 1992 until the end of 2013, Hanaa Al Hilali the Secretary General of SFD said.

The funding distribute between small and micro projects worth EGP17billion in favor of 1.92million projects along with infrastructure and community development projects worth EGP3.5billion.

Speaking to Amwal Al Ghad Arabic’s Website, Al Hilali explained that SFD is still supporting small and micro projects since January25 Uprising and till June30, beside pumping EGP4billion for small projects in the recent 3 years.

Meanwhile, SFD has been injected EGP613millionn for small abd micro projects during the first quarter of 2014, distributing between EGP351.6million for small projects for 2100 drafts and 38.749 thousands drafts through financing EGP201million.

In addition to EGP61.2million for infrastructure and social development projects as it provided 1.052million daily jobs.