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Sunday, April 28, 2024

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IFC partners with Al Baraka Bank Egypt to enhance financial access for MSMEs in Egypt, particularly women-owned businesses

EGYPT: The International Finance Corporation (IFC) has partnered with Al Baraka Bank Egypt to enhance financial access for MSMEs in Egypt, particularly women-owned businesses. With the IFC’s US$50 million Murabahah financing, Al Baraka Bank Egypt will be able to offer more funding to sectors such as technology, transportation, communications and healthcare. A minimum of 25% of the financing will be allocated to support women-owned SMEs, as stated in an official press release.

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