Some L.E. 117 million loans for youth to establish small projects

The Social Fund for Development (SFD) allocated L.E.117 million as loans for youth to establish new small project for creating around 13.000 job opportunities.

This came following the signing of an agreement between the National Bank of Egypt (NBE) and the SFD to finance the new small projects and develop the operating ones through offering the to credit facilities in this regard.

SFD chairman Hani Seiful Nasr said that agreement aims at establishing 2547 projects and creating 12870 job opportunities, noting that the agreement is the first to be signed with the banks following increasing the credit ceiling of the SFD's projects to one million Egyptian pounds.