The Social Fund for Development (SFD) aims at financing 500 projects through the franchise finance gateway which will be launched in the upcoming period in collaboration with the National Bank of Egypt (NBE), Industrial Development and Workers Bank of Egypt and Bank Audi Egypt.
SFD has allocated US$ 40 million for the gateway which was secured from the Islamic Development Bank and will be given to franchise projects through banks, said Marwan Abdel Razek, head of franchise sector at SFD.
The Fund has already disbursed US$ 450,000 of the total value of the US$ 950,000 grant received from the African Development Bank, he added.
SFD plans to hold training courses for employees of banks and companies on the different methods of financing franchise projects.
