AAIB, MSMEDA sign EGP 150m agreement to boost Egypt's SME industrial sector
Tamer Wahid, Vice Chairperson and Managing Director of AAIB, emphasized the bank's longstanding commitment to empowering SMEs, noting that AAIB's SME financing portfolio has now surpassed EGP 10bn—a nearly 400% increase. The number of clients served in this segment has exceeded 800.
Wahid highlighted the bank's strategic focus on supporting industrial projects that contribute to national development, as well as expanding services for exporters. 'This agreement reflects our continued dedication to strengthening our role in SME financing. We believe in the sector's central role in driving economic development and achieving sustainable growth,' he stated.
He added that AAIB is focused on delivering innovative financial products and advanced technological solutions tailored to the evolving needs of SMEs, in line with ongoing digital transformation in the financial sector. 'We aim to collaborate with our partners to offer competitive financing opportunities that accelerate SME growth.'
Under the agreement, AAIB will re-lend the funds to eligible SMEs across all Egyptian governorates, with a particular focus on new ventures and women-led projects. Small enterprises will be eligible for financing up to EGP 15m, while medium-sized enterprises can access up to EGP 30m. The loans will be used primarily for purchasing new machinery and supporting working capital.
This strategic partnership between AAIB and MSMEDA underscores the importance of public-private collaboration in advancing Egypt's economic development and fostering sustainable growth through SME empowerment.
Basil Rahmy, CEO of MSMEDA, affirmed the agency's commitment to working closely with major financial institutions to provide comprehensive support to entrepreneurs in the industrial and productive sectors. He noted that this partnership aligns with the government's strategic direction and the directives of Prime Minister Mostafa Madbouly—who also chairs MSMEDA—to create a business-friendly environment for SME growth.
'Our aim is to help enterprises expand, increase production, and generate sustainable job opportunities for youth and graduates,' Rahmy said. 'We are actively working to expand MSMEDA's financing footprint across micro, small, and medium enterprises, including support for innovative and technology-driven projects.'
Rahmy added that this includes both direct financing and coordinated efforts with banks, NGOs, and various partners, as well as investment in companies founded or backed by MSMEDA. These efforts form part of the agency's broader role in improving Egypt's investment climate and fostering a culture of entrepreneurship, innovation, and self-employment.
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