Nasser Social Bank launches Fatehet Khair initiative to back micro enterprises
Updated 5/12/2024 12:29:00 PM
Arab Finance: Nasser Social Bank has rolled out a new initiative named "Fatehet Khair," aimed at facilitating financing for micro-enterprises, as per a statement.
The funds to be provided under the newly launched initiative start from EGP 4,000 as a minimum, with the maximum at EGP 200,000, to be paid in monthly installments.
This initiative, designed to benefit both men and women aged 21 to 60, aligns with the bank's strategy to foster economic development through accessible funding programs.
Minister of Social Solidarity and Chairperson of Nasser Social Bank Nivine El-Kabbag, underscored the institution's commitment to enhancing livelihoods and reducing unemployment by offering a diverse range of banking products tailored to beneficiaries' needs.
The financing initiative targets a wide array of projects, including commercial ventures, animal production, services, industries, and home-based businesses.
The application process simply requires basic documentation such as ID cards, lease agreements, and utility bills.
Highlighting the government's support for small and micro-enterprises, particularly those led by women and youth, El-Kabbag emphasized the importance of financial inclusion in driving economic growth and empowering marginalized groups.
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