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Social Fund for Development (SFD) will meet Finance Ministry and Central Bank of Egypt (CBE) within the next month in order to review new regulations that will encourage the entry of SMEs to work under formal sector umbrella, SFD’s Acting Secretary General Hanaa El Hilaly asserted.
El Hilaly has quoted Amwal Al Ghad Arabic’s Website saying the new regulations will facilitate obtaining licenses and put tax incentives to encourage the development of the informal sector clients.
Moreover, she added that SFD will sign US$500 million contracts during the second quarter of 2014, distributing between US$300 million with the World Bank and US$200 million with Khalifa Fund for Enterprise.
