SFD to receive $200m loan from Khalifa Fund

The acting head of the Social Fund for Development (SFD) has said the SFD will sign a USD 200 million-loan agreement with the UAE Khalifa Fund for Enterprise Development.
The loan is to fund small and medium enterprises (SMEs) at an interest rate of 2 percent over 15 years, Hanaa el-Helali added.
Speaking at "Managing economic growth in Egypt" conference, she said that the SFD targets EGP 2 billion funds by the end of 2104.
She added that the SFD is studying possibilities of financing renewable energy projects.
The SFD is entrusted with supporting SMEs, providing an integrated package of financial and non-financial services for start-ups.
The SFD operates through a network of 31 regional offices covering all the governorates of Egypt.