The Social Fund for Development (SFD) injected finances worth EGP16.9bn to finance 97,800 small and micro-projects in the first half of 2016, according to the SFD’s report. This step provided 121,100 job opportunities.
The total lending value provided in the first half of 2016 was EGP 701.2m to 88,500 micro-projects, and EGP 994.3m to small projects.
The commercial sector acquired 59% of the small and micro-projects that are financed by the fund.
The loans provided by the fund to the projects in that sector totalled EGP 1.3bn given to 62,100 projects.
Projects for animal products represented 11% of the total of sectors financed by the fund. The numbers of the projects for animal products financed by the fund are 10,400 worth EGP 182.5m.
The service sector’s projects acquired finances worth EGP 304.8m to 11,000 projects and represent 18% of the total projects financed by the SFD.
The industrial sector’s projects acquired 10% of the total projects financed by the fund, and freelance project financing is roughly EGP 32.11m for 965 projects.
The lending trench of EGP 10,000 accounted for 23% of the total finances provided by the SFD in the first half of 2016, while the total share of the loans between EGP 10,000 and EGP 25,000 represented 20%.
The loans between EGP 50,000 and EGP 200,000 represented 17% of the total and loans of EGP 200,000 to EGP 500,000 accounted for 13%. Loans of EGP 1m to EGP 2m represented 9% of the total projects financed, and loans more than EGP 2m represented only 2%.