MSMEDA funds the microfinance-sector with 100 million EGP in cooperation with "Bedayti"

The Egyptian Micro, Small and Medium Enterprises Development Agency (MSMEDA) funds the microfinance-sector with 100 million EGP in cooperation with "Bedayti" Bassel Rahmy the CEO of The Egyptian Micro, Small and Medium Enterprises Development Agency (MSMEDA), witnessed the signing of a new financing contract between MSMEDA and Bedayti for microfinance for 100 million Egyptian pounds. The contract was signed by Nevine Badr El-Din, the head of the microfinance sector at MSMEDA, and both Mohamed Mashhour, the CEO of Bedayti, and Medhat Hamed, the CFO (chief financial officer) at the Egyptian-Kuwaiti Holding (EKH), according to a statement issued by the authority.

The new contract aims to finance approximately 2,000 clients, with each enterprise receiving up to 200,000 EGP to finance working capital and the purchase of equipment and machinery.