Cairo – Qatar National Bank Al Ahli (QNB) and Al Tadamun Microfinance Foundation reached an agreement to renew a credit facility worth EGP 195 million, according to a press release.

This financing aims to expand the funding of micro-projects owned by women throughout the country.

This agreement reflects the commitment of both Al Tadamun Microfinance Foundation and QNB Egypt to actively contribute to efforts aimed at women's empowerment, aligning with the directions of the Central Bank of Egypt and the Financial Regulatory Authority to enhance the role of the microfinance sector as a fundamental pillar of economic growth.

Mona Zuelficar, Chair of the Board of Trustees of Al Tadamun, commented: "We take pride in renewing the agreement with QNB Egypt, which will significantly contribute to the implementation of the Foundation's strategy aimed at reaching the largest possible segment of female clients nationwide, thereby supporting the expansion of financial inclusion."

Riham Farouk, CEO of Al Tadamun highlighted that Al Tadamun plans to expand its microfinance activity by offering a diverse and distinctive range of financing programmes that cater to different segments of clients.

Source: Mubasher

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