The Saudi Fund for Development (SFD) has signed on Friday three agreements worth 300 million Egyptian pounds ($19.1 million) to finance micro, small, and medium-sized businesses in Egypt.
The agreements were signed at the end of the SFD’s meetings in Cairo, which took place over three days at the Egyptian Ministry of International Cooperation’s headquarters during the period from December 28-30, 2021.
The SFD’s agreements included 100 million pounds signed with the Industrial Development Bank (IDB), 100 million pounds with Banque du Caire, and 100 million pounds with the Enmaa Finance Company, it added in a statement.
The signing ceremony was attended by Hassan Al-Attas, head of the Saudi side of the SFD’s Saudi grant management committee for Egypt; Mohammed Al-Tamimi, deputising for the Saudi Ambassador in Egypt; and Zayed Al-Asmari, Saudi Commercial Attaché in Cairo.
Saudi Fund for Development signed financing deals at the Egyptian International Cooperation Ministry’s headquarters in Cairo on Friday, December 31, 2021. (SFD Photo)
