Saudi Fund for Development inks 3 Agreements within KSA’s Grant to Egypt

Media IN Cairo SPA 10th-07-2019

The Saudi Fund for Development (SFD) has inked three agreements within the framework of the Kingdom Saudi Arabia’s grant to the Arab Republic of Egypt with a total amount of 125 million Egyptian pounds.

The agreements were signed by Head of the Saudi side of the Saudi Grant Management Committee for Egypt Engineer Hassan Al-Attas.

The agreements included the signing with EFG Hermes for Leasing, a subsidiary of EFG Hermes Finance, with an amount of 25 million Egyptian pound; UE Finance, a microfinance company, with an amount of 25 Egyptian pound; and Global Lease company, with an amount of 25 Egyptian pound.

The funding will be directed towards micro and industrial projects outside Greater Cairo and Alexandria, in addition to financing new and renewable energy projects and the agricultural and livestock sector