By Mahmoud Salah & Mostafa Adel
Cairo – Mubasher: Egypt’s Social Fund for Development (SFD) had granted loans at a total of EGP 8.5 billion from July 2014 until April 2016, said Secretary General Soha Soliman in a press conference.
Small and medium-sized enterprises were financed with EGP 7.1 billion, the Secretary General clarified, adding that EGP 1.4 billion was offered for infrastructure, social development, and training projects.
During 2015, Soha continued, the Fund provided EGP 5.4 billion, which represents 22% of the aggregate financing made since its foundation in 1991.
Along with EGP 24.7 billion granted up till 2014, the fund had thus given EGP 30.1 billion during the span extended from 1991 to 2015, Soha highlighted.
The SFD is a socio-economic safety net supporting SMEs and start-ups with an integrated package of financial and non-financial services. It targets new graduates, unemployed youth, start-up entrepreneurs, and marginalized groups like those with special needs.
Translated by Ahmed Elsayed Ali
