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SFD financed small enterprises worth EGP 1.6bn in H1 of 2016 - Daily News Egypt

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SFD financed small enterprises worth EGP 1.6bn in H1 of 2016

Commercial enterprises account for EGP 1bn of these finances

The Social Fund for Development (SFD) financed small and micro enterprises with EGP 1.69bn in the first half (H1) of 2016 across 97,800 projects, which secured the provision of 121,100 jobs. The total financing spent on infrastructure, training, and community development amounted to EGP 395m, which also secured an additional 47,200 jobs.

Commercial sector projects accounted for the largest share of the SFD’s grants and finances, as it acquired some EGP 1bn for 62,013 projects. The services sector followed with finances of EGP 304.8m for 11,071 projects.

According to the SFD, livestock development projects have accounted for EGP 182.5m of all SFD finances. These funds were distributed amongst 20,444 projects. The industrial sector was ranked fourth in terms of value of financing in H1 of 2016, as it acquired EGP 172.9m for 3,314 projects, followed by other professions that collectively accounted for EGP 32.1m for 965 projects.

Moreover, the ratio of loans of up to EGP 10,000 accounted for 23% of all loans granted by the SFD in that period, while loans worth EGP 10,000 – EGP 25,000 accounted for 20%. Loans ranging between EGP 50,000 and EGP 200,000 accounted for 17% of loans, followed by loans between EGP 200,000 and EGP 500,000 with a 13% share of loans. About 9% of loans ranged between EGP 25,000 and EGP 50,000, as well as loans between EGP 1m and EGP 2m. Only 7% of loans were worth EGP 500,000 to EGP 1m.

Provinces of Upper Egypt accounted for the largest share of finances granted to micro and small enterprises by the SFD in H1 of 2016. The provinces of Giza, Beni Suef, Fayoum, Minya, Assiut, Sohag, Qena, Luxor, and Aswan acquired EGP 753.8m for 58,358 projects. Lower Egypt’s provinces, including Dakahlia, Qaliubiya, Sharqeya, Beheira, Ismailia, Menoufiya, Gharbeya, Kafr El-Sheikh, and Damietta, acquired EGP 690.4m for 34,225 projects.

Meanwhile, Cairo, Alexandria, Port Said, and Suez acquired sheer finances of EGP 186.1m for 3,782 projects. Finally, 1,442 projects in Red Sea, Marsa Matrouh, North Sinai, South Sinai, and New Valley acquired EGP 65.2m.

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