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Banque Misr is currently holding talks with the Social Fund for Development (SFD) over an EGP 100 million contract to finance microenterprises in Egypt.
From her part, Nevine Badreldin – Head of SFD for Microenterprises Sector – said the negotiations are ongoing over the type of the financing.
The official expects that contract would be a Shariah-compliant financing and to be signed next February.
Furthermore, Badreldin told Amwal Al Ghad that SFD’s total cumulative portfolio of microenterprises reached EGP 5 billion in favour of around 1.5 million clients.
