Egypt: MSMEDA, Banque du Caire sign $10mln contracts to finance microenterprises
The agreements were signed by Mohamed Medhat, Deputy CEO of MSMEDA, and Ayman Khattab, Head of the Financial Institutions Sector at Banque du Caire, in the presence of MSMEDA CEO Basil Rahmy, Banque du Caire Managing Director and CEO Hussein Abaza, and senior officials from both sides.
Rahmy said the move supports the political leadership's directives to strengthen microenterprise financing and expand access to women and youth entrepreneurs.
He explained that the funding, up to EGP 500,000 per beneficiary, aims to help project owners develop and expand their operations, integrate into the formal economy, and benefit from soft financing, supportive laws, and tax concessions.
The first contract targets informal businesses seeking to formalize, while the second supports existing microenterprises looking to grow, renew, or replace assets.
According to Medhat, the agreements are expected to finance around 5,300 projects nationwide, with a focus on vulnerable groups.
Khattab emphasized that the bank would continue directing funding to priority segments, leveraging its experience in both financial and non-financial services to boost productivity and integrate more entrepreneurs into the formal sector.
Cooperation between MSMEDA and Banque du Caire began in 2012 and has since financed more than 862,000 micro-projects worth about EGP 16.5 billion, including revolving loans totaling EGP 4.3 billion.
© 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (Syndigate.info).
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