LE 2.25 billion to finance small projects within 5 months

CAIRO – 19 June 2017: The financing of small,medium-sized and micro enterprises amounted to LE 2.25 billion ($112 million) from January to May 2017, ex-Head of the Social Fund for Development, Neveen Gamea said in a Sunday statement.

Gamea added that the Social Fund committed roughly LE 1.6 billion ($90 million) to fund 74,161 thousand small projects that provided 93,891 jobs between January and April 2017.

She pointed out that Upper Egypt accounts for 60 percent of the annual funding directed to small and medium enterprises.

The Social Fund for Development (SFD) has given loans amounting to LE 3.8 billion to finance small and micro enterprises during the past year. It financed 402,214 micro and small projects that provided 265,186 jobs.