The Saudi Fund for Development (SFD) has signed MSME financing agreements with three different entities in Egypt – Industrial Development Bank, Enmaa Finance Company, and Banque du Caire. The total value of these three agreements adds up to US$19 million (300 million Egyptian pounds), and this amount is intended to finance micro, small and medium-sized enterprises (MSMEs) in the Upper Egypt region. The funding, which will go into medical services, clean energy and industrial sectors, is expected to lower the unemployment rate and boost the pace of development across the region.
