Catalyst Partners, UNDP launch EGP 500 mn fund to support Egyptian SMEs
Egyptian SMEs will have access to a new EGP 500 mn impact investment fund that Catalyst Partners is setting up after signing an MoU with the United Nations Development Programme (UNDP), according to Al Mal. There are no further details available on how the fund will classify “impactful” businesses. The fund will be established with unnamed Egyptian and Gulf partners and UNDP’s participation in the fund will support creating new standards for development, Catalyst Partners Managing Director Abdelaziz Abdel Nabi said at a presser after signing the agreement, reports Al Mal in a separate story.
This isn’t their first impact investment rodeo: Catalyst and the UNDP cooperated earlier this year to create a toolkit for “investment-ready” SMEs to help them measure their environmental and social impacts. The partnership was designed to channel more investment into sustainable Egyptian businesses.