Al Tadamun for Microfinance, a leading institution in financing women’s micro-enterprises, has signed a new financing agreement with the Agricultural Bank of Egypt (ABE) worth EGP 100 million.
This partnership aims to expand funding for women-owned micro-projects across various productive, commercial, and service sectors throughout Egypt.
Mona Zulfiqar, Chairperson of the Board of Trustees at Al Tadamun for Microfinance, expressed pride in initiating cooperation with ABE, one of the oldest operating banks in Egypt.
Regarding the signing, she stated: We believe that the partnership between Al Tadamun for Microfinance and ABE will significantly support women’s empowerment efforts, aligning with the directives of the Central Bank of Egypt and the Financial Regulatory Authority.
She added: These efforts aim to promote sustainable economic growth in line with Egypt’s Vision 2030.
Reham Farouk, CEO of Al Tadamun, noted the institution’s strong credit history and its current collaboration with ten banks. She emphasized the organization’s continuous efforts to strengthen partnerships with the banking sector to support its strategy of providing the necessary financing for women to expand and develop their businesses with ease.
Farouk explained that Al Tadamun is focused on expanding its microfinance activities to create job opportunities and improve the living standards of low-income families, contributing to broader economic development.
The institution offers a range of financing programs, including individual financing, group financing, family financing, and “Golden Financing,” alongside non-financial services.
Kareem Gomaa, Chief Financial Officer of Al Tadamun, stated that the partnership with ABE will provide distinctive financing mechanisms to meet the diverse needs of female micro-entrepreneurs.
This collaboration aims to improve their livelihoods and ensure sufficient income for their families.
