Tadamun Microfinance Foundation and the Export Development Bank of Egypt (EBank) have recently inked a significant EGP 50 million credit facility agreement, a move that underscores their commitment to empowering women entrepreneurs in Egypt. This strategic partnership aims to provide much-needed financial support to women-led micro-enterprises, bolstering their growth and economic impact.
By securing this substantial funding, Tadamun will be able to expand its reach and offer a wider range of flexible financing programs tailored to the specific needs of women entrepreneurs. This will enable them to access the capital necessary to start and grow their businesses, create jobs, and improve their livelihoods.
In this regard,Reham Farouk, CEO of the Foundation, said that the Foundation will redirect funding to women-owned enterprise owners through a package of flexible financing programs that suit the needs of different categories, based on the Foundation’s role as a leader in the field of financing micro-enterprises
On the other hand Mona Zulfikar, Chairperson of the Foundation’s Board of Trustees, expressed her pride in signing the contract. She explained that Tadamun is constantly seeking to enter partnerships that aim to support women’s projects and help them grow, in line with the directions of the Financial Regulatory Authority (FRA) and CBE to support micro-enterprises as the engine of economic growth.
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This collaboration aligns perfectly with the Egyptian government’s vision to empower women and stimulate economic growth. By investing in women entrepreneurs, Tadamun and EBank are not only contributing to the country’s economic development but also fostering a more equitable and inclusive society.
This partnership marks a significant milestone in the journey towards empowering women entrepreneurs in Egypt. By providing access to finance, training, and mentorship, Tadamun and EBank are empowering women to realize their full potential and drive positive change.
