CAIRO — The Saudi Grant Management Committee at the Saudi Fund for Development (SFD) has signed three agreements in Egypt to contribute to the financing of the small, medium, and micro-enterprises, worth 300 million Egyptian pounds.

The deals were signed at the end of its meetings in Cairo, which took place over three days at the Egyptian Ministry of International Cooperation during the period from Dec. 28-30, 2021.

The agreements included 100 million Egyptian pounds with the Industrial Development Bank, 100 million Egyptian pounds with the Banque du Caire, and 100 million Egyptian pounds with the Enmaa Finance Company.

The signing ceremony was attended by the Head of the Saudi Grant Management Committee for Egypt Eng. Hassan Al-Attas, and Counselor Mohammed Al-Tamimi, deputizing for the Saudi Ambassador in Egypt, and Saudi Commercial Attaché in Cairo, Zayed Al-Asmari.

The Egyptian Minister of International Cooperation, Dr. Rania Al-Mashat praised in a statement Saturday, the distinguished Egyptian-Saudi strategic ties, which are reflected in the provision of development funds for projects in various fields, especially through the Custodian of the Two Holy Mosques King Salman program.

The program aims at enhancing the country’s efforts to develop the Sinai Peninsula, as well as the grant for small and medium enterprises development, adding that she is looking forward to opening new horizons for partnership with the Kingdom in the framework of supporting Egypt’s national development agenda. — SPA