The total funds of Social Fund for Development (SFD) for Small and Medium-sized Enterprises (SMEs) worth 3 billion Egyptian pounds (US$383 million) at the end of August 2015, Secretary General Soha Soliman said Thursday.
Soliman told Amwal Al Ghad that the fund targets boosting its funds for SMEs to 4.2 billion Egyptian pounds at the end of 2015.
The fund is currently studying organizing the first international fair to promote the products of small enterprises abroad, the official stated, adding that the start would be from Dubai through cooperating with international authorities such as Emirati Khalifa Fund for Enterprise Development and others.
Egypt’s Social Fund for Development is to get the first payment of its agreement with Khalifa Fund worth US$17 million at the end of September. The total volume of SFD’s agreement with Khalifa is estimated at US$200 million.
Moreover, Soliman added that the fund is negotiating with international cooperation ministry to get financing bunch from the World Bank worth US$500 million.
