(MENAFN) Abu Dhabi-based Khalifa Fund for Enterprise Development, a UAE state investment fund, announced it has signed an agreement with the Egyptian government for USD200 million in loans for microfinance projects in the country,
The fund said that through the funding for these microfinance projects, some 100.000 projects will be established, which will create more than 120.000 job opportunities by 2020.
"The loan will be directed towards microfinance development in remote and disadvantaged areas and pockets of poverty throughout Egypt and it would also help Egyptian women in rural areas find work," The Khalifa Fund Director said.
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