Reefy Micro Finance Enterprise Services and the Micro, Small, and Medium Enterprises Development Agency (MSMEDA) have just inked a new finance agreement worth EGP 150 million to support women’s microprojects nationally.
In the presence of Basil Rahmi, CEO of MSMEDA, the contract was signed by Nevine Badr El-Din, Head of MSMEDA’s Central Microfinance Sector, and Ahmed Labib, Managing Director and CEO of Reefy.
According to an article by the Daily News Egypt, Rahmi said the agreement will provide funding for 6,000 women and girls who want to start, grow, or expand their micro-projects to boost their output and income and raise their economic statuses.
He further noted that the organization was extending its collaboration with various development partners and intermediate entities to reach as many women as possible in these regions and to make it easier for them to get appropriate financial services for their projects. He claimed that they would be better able to help their local communities by doing this.
He continued that the organization’s goal was to assist women and give them greater chances for temporary and permanent employment, particularly in border and areas of greatest need. He claimed that the agency also offered them a range of technical assistance so they could develop the foundational skills necessary for self-employment and take advantage of the natural riches in their governorates.
