SME Development Authority in talks with EBRD, AFD for EGP 5 bn in financing + may start lending directly to mid-sized enterprises

SME Development Authority looking for EGP 5 bn in loans from international institutions: The SME Development Authority is in talks with international financing institutions, including the European Bank for Reconstruction and Development and French development agency AFD for EGP 5 bn in funding, Al Mal reports. The funds will be used to finance SMEs, as well as labor-intensive and community-centric projects in more impoverished governorates, sources from the authority say. The authority will also begin next year to directly offer finance to medium-sized enterprises.