Egypt
Promoting Access to Credit and Private Sector Growth
With funding from Overseas Private Investment Corporation (OPIC), CHF is establishing a $250 million loan guaranty facility to support lending to small businesses in Egypt. With $11 million in funding from USAID to support start-up and operational expenses, the facility will guaranty loans by local banks to SMEs, microfinance institutions, non-banking financial institutions and other approved borrower. The program will also provide technical assistance and training programs for both bank managers and SME management.
According to a study by the International Finance Corporation and McKinsey, there are between 1.9 and 2.3 million formal SMEs in the Middle East and North Africa region, and although more than half of them maintain bank accounts, most do not have access to credit. The facility will target this shortage of SME credit availability in Egypt and remove an important impediment to private sector growth.
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CHF International 8601 Georgia Avenue, Suite 800 Silver Spring, MD 20910 USA Phone: 301.587.4700 Fax: 301.587.7315 Email: mailbox@chfinternational.org |
CHF is a politically neutral, non-profit 501(c)(3), that prides itself on an approach which is accountable, efficient, and effective.
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