Industrial Development and Workers Bank of Egypt (IDWE) plans to sign a contract with Social Fund for Development (SFD) aimed at financing agriculture projects, food industry and animal resources production.
Hamdi Azzam, BOD member at IDWE, told Amwal Al Ghad that the Bank received yesterday SFD’s final approval over the new contract with a value of about EGP 50 million.
The total value of finance contracts signed to finance SMEs between the Bank and SFD registered EGP 190 million since awake 2012, and the new contract is the fifth one since last September, Azzam added.
IDWE decided to disburse the value of the latest finance contract signed with SFD with value of EGP 10 million, because of the increasing demand on the Bank’s products in the last period.
