In a strategic move to bolster microfinance accessibility in Egypt, Al Tadamun Microfinance has entered into a significant EGP 150 million credit facility agreement with Commercial International Bank (CIB). This partnership aims to provide critical financial support to small and micro enterprises across the country, fostering their growth and sustainability.
The agreement, finalized on October 19, 2024, marks a pivotal step in expanding Al Tadamun’s reach to underserved communities. The organization will utilize the funds to enhance its lending capabilities, enabling it to support a wider range of entrepreneurial ventures.
CIB’s involvement underscores its commitment to promoting financial inclusion, particularly for marginalized groups. By partnering with Al Tadamun, CIB reinforces its strategy to extend financial services to those who may not have access to traditional banking systems. This agreement will help us support more entrepreneurs and enable them to turn their ideas into successful businesses.”
The EGP 150 million credit facility is expected to create a positive ripple effect within local economies. It will support a diverse range of industries and help individuals build sustainable livelihoods. As the collaboration unfolds, both Al Tadamun and CIB will work closely to monitor the impact of the funding and ensure it effectively meets the needs of the microfinance sector.
This partnership represents not just financial support but also a commitment to social responsibility and a vision for a more inclusive economic landscape in Egypt.
