Mashroo3k injects EGP 32.1bn to fund over 213k projects since launch
Manal Awad, Minister of Local Development, announced that the national initiative for community, human, and local development—Mashroo3k (Your Project)—has financed 213,313 projects with total investments reaching EGP 32.1bn since its inception in 2015. The programme has played a key role
United Bank approves 2024 financial statements, reviews growth, expansion plans
United Bank held its General Assembly meeting under the chairmanship of Omar Mehana, Chairperson of the Board, alongside Ashraf El-Qadi, CEO and Managing Director, with the participation of board members and shareholders. The meeting reviewed and approved the bank’s financial
Microfinance companies inject EGP 80.4bn into MSMEs in January 2025: FRA
The Financial Regulatory Authority (FRA) has reported that licenced microfinance companies and associations provided a total of EGP 80.409bn in funding to micro, small, and medium enterprises (MSMEs) in January 2025. This represents a significant increase compared to EGP 58.881bn
Egypt’s banking sector expands sustainable finance initiatives
Egypt’s banking sector, under the leadership of the Central Bank of Egypt (CBE), is intensifying its commitment to sustainable finance, playing a pivotal role in achieving the country’s Sustainable Development Goals (SDGs) and Vision 2030. Banks across the nation are
UNDP reaffirms strategic partnership with MSMEDA in 2025
Bassel Rahmy, CEO of the Micro, Small, and Medium Enterprise Development Authority (MSMEDA), emphasized the organization’s commitment to continuing collaboration with development partners to share expertise and international best practices in developing micro, small, and medium enterprises (MSMEs), in line
Corporate, institutional financing for MSMEs jumps to EGP 71.3bn in September 2024
Corporate and institutional financing for Micro, Small, and Medium Enterprises (MSMEs) totaled EGP 71.321bn for 3.759 million customers in September 2024, up from EGP 49.653bn for 3.824 million customers in September 2023. The Financial Regulatory Authority (FRA) reported that the
AAIB, IFC, EBRD, and BII launch $500m sustainability bond to advance climate finance, support MSMEs
The Arab African International Bank (AAIB) has issued a $500m sustainability bond, backed by investments from IFC, the European Bank for Reconstruction and Development (EBRD), and British International Investment (BII). This initiative aims to advance Egypt’s green transition while supporting
ETA chief highlights new tax facilities, community engagement
Rasha Abdel Aal, Chairperson of the Egyptian Tax Authority (ETA), emphasized the Minister of Finance’s commitment to fostering community dialogue between the Authority and taxpayers. She noted that effective communication with civil society and the tax community bolsters transparency for
FRA-supervised entities offer EGP 51.5bn finance until August 2024
The Financial Regulatory Authority (FRA) has revealed that the organizations subject to its supervision, including capital market and non-banking financing entities, had injected financing worth EGP 51.5bn until August 2024. The Authority said the financing was divided into EGP
ABE injects EGP 39.8bn into small, micro-enterprises in September
The Agricultural Bank of Egypt (ABE) concluded the third quarter of this year with significant growth in loans allocated to funding SME activities. The bank stimulates various productive sectors to create a competitive national industry in all fields, enhancing local