Daily News Egypt

Total finances of SFD EGP 3.8bn during 2016 - Daily News Egypt

Advertising Area

Advertising Area

Total finances of SFD EGP 3.8bn during 2016

Commercial sector projects took advantage of the fund 's financing programmes with 132,700 projects

The Social Fund for Development (SFD) injected loans to finance small and medium-sized enterprises (SMEs) at a total value of EGP 3.8bn in 2016 to finance 204,400 SMEs and micro enterprises which contributed to provide 265,100 job opportunities.

According to the SFD report, the commercial sector’s projects acquired the largest ratio of the funds during 2016. The commercial projects acquired 65% of the total funded projects, and 61% of the total value of the funding provided to projects. The fund has financed 132,700 commercial projects in 2016 at a value of EGP 2.3bn.

The ratio of projects for animal husbandry registered 20.5% of the total number of the financed projects. The number of projects for animal husbandry is 42,000 projects financed with EGP 489.6m. The animal husbandry projects acquired 13% of the fund directed to SMEs.

In 2016, the SFD financed SMEs in the service sector with EGP 556m for 20,900 projects. The ratio of service projects from the total funded projects is 10.2%, while the financing ratio obtained by the service projects is 15%.

The SFD financed projects in the industrial sector amount to 6,700 projects with EGP 354.7m of financing. The ratio of the industrial sector projects reached 3.3% of the total funded projects and 9% of the total amount allocated for financing SMEs. Freelance jobs were financed with EGP 59.4m.

Loan tranches of up to EGP 10,000 acquired the largest share of the disbursed finances for SMEs with 22%, while the ratio of the total funds that range from EGP 10,000 to EGP 25,000 reached 20%. The projects that ranged from EGP 200,000 to EGP 500,000 acquired 16% of the disbursed funding of SMEs.

According to the SFD, the projects that range between EGP 50,000 and EGP 200,000 acquired 15% of the disbursed funding in 2016. The ones that range between EGP 500,000 and EGP 1m reached 8% of the total disbursed funding to SMEs, as well as the ones that range between EGP 25,000 to EGP 50,000.

Advertising Area

Breaking News

No current breaking news

Receive our daily newsletter