SFD Received $350mn, €80mn So Far in 2014

Egypt’s Social Fund for Development (SFD) reported total cumulative finance portfolio for small, micro-sized and infrastructure projects worth EGP 23 billion, said the secretary-general Soha Soliman.

Speaking to Amwal Al Ghad on Sunday, Soliman clarified that the small and micro-sized enterprises seized EGP 19 billion of SFD’s total portfolio; while the infrastructure sector captured EGP 4 billion.

Since the beginning of 2014, SFD signed a number of financing contracts with foreign countries and institutions, including $350 million from the World Bank Group and the Arab Fund in addition to €80 million from the French Development Agency (Agence Française de Développement AFD).

The SFD is in final stage of talks to sign a new contract with one of the foreign entities, announced Soliman, but declined to mention its name.