ArabFinance: Banque Misr has signed a contract with Egyptian Micro-, Small- and Medium-sized Enterprises Development Agency (MSMEDA) to finance the women empowerment project with EGP 100 million, according to an emailed press release on December 29th, 2021.

The contract aims at financing micro-sized projects managed by women to help them to grow their business and compete in the market.

This comes in line with Banque Misrs plan to support the initiative launched by the Central Bank of Egypt and the Egyptian Federation for Financing Medium, Small and Micro Projects (EFFMSMP) to empower women.

Under the contract, nearly 10,000 micro-scale projects managed by women will be financed with an average loan of 10,000 during the period of setting up the project.

It is worth noting that the signed contracts between Banque Misr and MSMEDA worth a total of EGP 2.4 billion during the period from 2011 until October 2021, funding 138,000 microfinance projects.

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