FINANCIAL NEWS

Egypt’s SFD to issue EGP500mn into small projects

26 Apr 2017

(MENAFN) The Social Fund for Development (SFD) plans to inject direct funds of EGP500mn to small enterprises by the end of the recent year.

Last year, the SFD has issued EGP2.25bn into small projects, while many clients have paid back the loans, leaving only EGP1.1bn standing.

Accordingly, small enterprise owners are granted loans to finance capital, equipment, and machines, while loans range between EGP10.000 and EGP2mn.

In addition, the fund aims to inject directly into small enterprises are different than the co-op with Ard Al-Khair Co. to develop livestock.

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MENAFN2604201700450000ID1095419929

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