The Social Fund for Development’s (SFD) SME direct and indirect finance portfolio reached EGP 1.450 billion at the end of 2012.
Sources said SFD plans to expand in financing small and medium enterprises (SMEs) to increase the value of finances to EGP 1.5 billion in 2013, beside training individuals on how to manage their projects and market their products.
SFD also targets to sign two agreements worth 125 million with the Industrial Development and Workers Bank of Egypt this month. The first contract is worth EGP 100 million and will go for the debit current account and the second contract is worth EGP 25 million and will go for food industries.
In addition, SFD plans to sign three finance agreements worth EGP 192 million with the National Bank of Egypt (NBE) to finance SMEs. The values of the three agreements are EGP 100 million, EGP 80 million and EGP 12 million, sources added.
