SFD to Provide Soft Loans for Small Bakeries in Egypt – Minister

Egypt’s Supply Ministry and Social Fund for Development (SFD -Egypt) signed today a cooperation protocol to finance the developing of small bakeries, according to minister Khaled Hanafy.

As pursuant to the protocol, the minister told reporters that SFD will provide soft loans for the owners of small bakeries in Egypt so as to be diverted to partially automated systems. The new system will enable the owners to produce abundantly high-quality loafs of bread.

This comes while Hanafy attended the inauguration of the new partially-automated bakery in Obour City, which was established by the Supply Ministry’s General Committee for Foreign Aid in cooperation with the Italian government, with total cost of EGP one million. The new bakery, extends over 500 square metre in Obour City, is set to produce 2.000 state-subsidised bread per hour at 5 piasters a loaf.