Al-Tadamun Microfinance Foundation, a leading institution specializing in microfinance for women, announced the renewal of a credit facilitation agreement with Al Baraka Bank Egypt valued at EGP 90 million. The agreement aims to expand financing for women-owned micro-enterprises across Egypt, reinforcing their role in the country’s economic growth.
Dr. Mona Zulfikar, Chairperson of Al-Tadamun’s Board of Trustees, emphasized the strategic importance of the partnership: “This agreement reflects the shared commitment of the foundation and Al Baraka Bank to empower women and support Egypt’s sustainable development strategy through micro-enterprises, which are a cornerstone of economic growth.”
The agreement aligns with directives from the Central Bank of Egypt and the Financial Regulatory Authority, aiming to provide tailored financial solutions that enhance the competitiveness of women-owned micro-enterprises and broaden financial inclusion.
Reham Farouk, CEO of Al-Tadamun, highlighted that the renewed facility will enable innovative financing solutions to meet the needs of women entrepreneurs, allowing them to expand their businesses, improve household incomes, and elevate living standards. Funding will cover a range of programs, including group and individual loans, “Forza” financing, “Khatwa” loans, golden financing, family loans for equipment and transportation, and Individual Plus loans.
Karim Gomaa, Al-Tadamun’s Chief Financial Officer, noted that the initiative aligns with the foundation’s ambitious strategy to reach more women entrepreneurs nationwide, expand the client base, and promote women’s economic empowerment. He also highlighted Al-Tadamun’s commitment to diversifying funding sources and building strategic partnerships, currently collaborating with 12 banks in Egypt, demonstrating its leadership in financing micro-enterprises.
This renewed partnership underscores the growing role of microfinance in advancing women’s empowerment in Egypt, providing both financial resources and practical support to help women scale their businesses and contribute to the national economy.
