SFD signs EGP20-million Contracts with two Leading Finance Leasing Firms in Egypt

Egypt’s Social Fund for Development (SFD) has signed Thursday contracts worth 20 million Egyptian pounds (US$2.6 million) with two finance leasing companies.

The first contract is at value of 10 million pounds; signed with Piraeus Egypt Leasing Company, a subsidiary of Piraeus Bank – Egypt. The second contract was signed with ADILease Company for lease finance, a subsidiary of Abu Dhabi Islamic Bank (ADIB) – Egypt, worth 10 million pounds.

The two contracts signal the beginning of SFD’s working with finance leasing firms in Egypt, head of SFD’s central sector for small enterprise finance, Nevine Gamea said.