(Cairo) – The Khalifa Fund for Enterprise Development and Egypt’s Social Fund for Development (SFD) recently signed a framework agreement outlining joint efforts to boost development and opportunities for small and micro sized enterprises in Egypt. The agreement was signed on the sidelines of the Egypt/GCC Investment Forum.
H.E. Ibrahim Ahmed Al Mansouri, Khalifa Fund’s chief operations officer, and Ghada Wali, SFD’s managing director, signed the agreement in the presence of the Egyptian Prime Minister, Dr. Hazem El Beblawi; H.E. Dr. Sultan bin Ahmed Sultan Al Jaber, UAE Minister of State; Egypt’s Deputy Prime Minister for Economic Affairs and Minister of International Cooperation, Dr. Ziad Bahaa-Eldin; and the UAE’s Ambassador to Egypt, H.E. Mohammad bin Nukheira Al Daheri.
The framework agreement stipulates that the UAE will provide $200 million (Dh736 million), via the Khalifa Fund, to the SFD in order to catalyse the start-up of small and micro sized enterprises with the overarching goal for these businesses to achieve significant socio-economic impact throughout Egypt.
