Franchise Egypt

USD 40 Million for Small and Micro Enterprises in Egypt

27/07/2016
Managing Director Ms. Soha Soliman witnessed the signing of an agreement to finance small and micro enterprises between Ministry of International Cooperation and OPEC Fund for International Development (OFID) through SFD. The agreement totaling USD 40 million was signed by Minister of International Cooperation Dr. Sahar Nasr and OFID Director General and Chief Executive Officer Mr. Suleiman Jasir Al Herbish.
"According to the agreement, USD 30 million will be allocated to finance the establishment of 1000 small enterprises and contribute to the creation of 6800 jobs, meanwhile, the remaining USD 10 million will be earmarked for 6500 micro enterprises creating in turn 16,000 jobs." Managing Director said.
"The most vulnerable groups, namely the unemployed youth, women heading households and low-income populations in all Egypt’s governorates will benefit from this agreement." She added.