SFD Signed 4 Agreements Worth US$ 268 Mln In 2012

The Social Fund for Development (SFD) signed four agreements with foreign bodies to receive loans of about US$ 268 million in 2012 in order to finance micro, small and medium enterprises (MSMEs) as well as infrastructure projects in different governorates.

Sources revealed to Amwal Al Ghad that SFD signed finance agreement worth US$ 50 million with Islamic Development Bank, finance agreement worth €45 million (US$ 60 million) with Arab Investment Bank and two contracts worth US$ 108 million and US$ 50 million with Arab Fund for Economic & Social Development.

SFD also signed agreements to finance the improvement of drinking water facilities in Giza, Fayoum and Sharkia with EGP 9.2 million to 2012.

In addition, SFD is currently in talks with French Development Agency to receive loans worth €80 million to finance SMEs.