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Sunday, 26 June 2016

Social Fund for Development signs EGP 100 mn loan agreement with Al Baraka Bank

The Social Fund for Development (SFD) will soon sign an EGP 100 mn loan agreement with Al Baraka Bank, head of Small Enterprise Finance Nevine Gamea told Al Mal, without giving a more specific timeframe. The loan will be directed toward small enterprises, she added. As we had previously reported, the SFD is launching the second phase of the Gam’eyeti project with funding from NBE and the Arab Investment Bank. The SFD is also in talks with the Arab Fund for Economic and Social Development for a separate USD 50 mn loan to finance small enterprises, she added.

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