Home MoneyFinancial Institutions SFD signs cooperation protocol with Egypt’s construction federation

SFD signs cooperation protocol with Egypt’s construction federation

by Yomna Yasser

Egypt’s Social Fund for Development (SFD) has signed on Thursday a cooperation protocol with the Egyptian Federation for Construction and Building Contractors (EFCBC), SFD’s secretary-general Soha Soliman announced.

Under the protocol, SFD will finance the purchase of machineries and equipment in favour of contractors and sub-contractors, at distinguished interest rates, Soliman said.

The Fund will provide financing worth 5 million Egyptian pounds ($563,285) at maximum for the main contractor and 2 million pounds ($225,314) at maximum for the sub-contractor, over five years, Soliman said.

EFCBC will nominate the names of beneficiaries of the SFD’s financing.

 

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