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Archive News >> 50 Million EGP for Industrial Enterprises
50 Million EGP for Industrial Enterprises
17/02/2015
SFD Managing Director Ms. Soha Soliman and Chairman of Industrial Development and Workers Bank of Egypt (IDWBE) Mr. Al Said Al Kosair attended the ceremony of signing two new contracts between SFD and the Bank totaling 50 million EGP funded through l’Agence Française de Développement (AFD). 
SFD Head of the Central Sector of Small Enterprise Finance Ms. Neveine Gamea and IDWBE Board Member Mr. Hamdy Azzam signed the contracts. Both contracts are designed to finance start-up and existing industrial small enterprises through the IDWBE branches covering the governorates of Egypt. "These contracts come in line with the SFD’s strategy to upgrade the small enterprise sector in Egypt. They are expected to establish 75 start-up industrial enterprises and create more than 1200 jobs," Ms. Soliman said. "Priority will be given to the poorest areas in Upper Egypt’s governorates," she added. 
IDWBE is one of the SFD strategic partners especially during the period from 2012 -2014 that witnessed the signing of 7 contracts in the amount of 252.5 million EGP. These contracts have insofar contributed to the financing of more than 440 enterprises in numerous economic sectors: agribusiness, industrial production, subsidized bakeries and others.



Financed by the AfDB
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