Egypt’s FRA raises micro-enterprises’ funding limit to EGP 220k

Egypt’s Financial Regulatory Authority (FRA) increased the maximum amount of micro-projects finance by 10 percent to become 220,000 pounds instead of 200,000 pounds, its chairman Mohamed Farid said on Sunday.

The increase provides greater flexibility to obtain appropriate funding for both start-up and development of projects and to develop their size and increase their competitiveness.

However, the decision is an interaction with economic variables in markets to cope with the effects of high inflation, as the authority aims to make appropriate funding available to middle-income groups under the state’s fiscal inclusion plan.