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Egypt grants EGP 17.47bn in micro-loans until April - Daily News Egypt

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Egypt grants EGP 17.47bn in micro-loans until April

Commercial activity represents 61.25% of total financing


Egypt’s microcredit balance for associations, companies, and financing institutions recorded a total of EGP 17.470bn at the end of April 2020, compared to the EGP 13.128bn in April 2019.

A recent report by the Financial Regulatory Authority (FRA) revealed that commercial activity accounted for 61.25% of the total financing. Of this, service activity balances stood at about 15.93%, agricultural activity at 13.34%, and production at 9.48%.

According to the market share of financing, companies accounted for 52.75% of the funds, with Category A associations and institutions taking 39.95%, Category B associations and institutions taking 3.55%, and Category C associations and institutions taking 3.77%.

The FRA report revealed that a total of 3.138 million customers benefited from microfinance activities by the end of April 2020, compared to 2.884 million customers at the end of April 2019.

According to the number of fund beneficiaries, Category A associations accounted for 53.67%, followed by companies at 37.72%. Category B associations and institutions obtained a ratio of 3.89%, and Category C associations and institutions obtained 4.71%.

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https://dailyfeed.dailynewsegypt.com/2020/07/28/egypt-grants-egp-17-47bn-in-micro-loans-until-april/
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