The Micro, Small and Medium Enterprises Development Agency (MSMEDA) and the Agricultural Bank of Egypt (ABE) have signed a new financing contract worth EGP 60m, within the framework of the Egyptian Family Development Initiative “Bab Rizq”, funded by the French Development Agency’s (AFD) “Supporting Women to Finance Micro Enterprises” initiative.
Hala El-Said, Minister of Planning and Economic Development, said that the Egyptian Family Development Initiative aims primarily to improve population and control its growth rates, in order to help the Egyptian society benefit from the fruits of development.
MSMEDA explained that the contract reflects the Family Development Initiative’s keenness on mobilizing all efforts, and build partnerships with all state institutions to achieve its desired goals, which were developed according to the project’s five axes, especially the economic empowerment of women.
It pointed out that the protocol allows financing various projects for Egyptian women to improve the economic conditions of their families, help them deal with life’s burdens of life, and give them an opportunity to live a decent life.