The size of microfinance offered by banks and financial institutions increased to EGP 74.8 billion during the first quarter of this year, with a growth rate of 18.4% year on year (YoY) from EGP 63.1 billion in the January-March period of 2022, according to the Egyptian Federation for Medium, Small, and Micro Enterprise Funding. 

Banks operating in the Egyptian market pumped financing worth EGP 33.8 billion, while microfinance firms backed micro-, small- and medium sized enterprises (MSMEs) with 25.2 billion. 

A total of EGP 15.7 billion was pumped by civil society to support MSMEs during the first three months of 2023.