MSMEDA, Tanmeyah pen EGP 200M financing deals to back SMEs

Updated 3/10/2024 12:55:00 PM
MSMEDA, Tanmeyah pen EGP 200M financing deals to back SMEs

Arab Finance: Egyptian Micro, Small and Medium Enterprises Development Agency (MSMEDA) has signed two financing agreements worth EGP 200 million with Tanmeyah for Microenterprise, a financial services provider and a subsidiary of EFG Holding, as per a statement on March 10th.

The first agreement is worth EGP 50 million to help informal enterprises transform into the formal sector, while the second EGP 150 million deal will back small- and medium-sized enterprises (SMEs) across all governorates.

These funds will finance about 10,000 beneficiaries in all governorates working in various sectors.

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