New International Funding to Support Small and Medium-Sized Enterprises in Egypt
GlobalCorp Financial Services has secured $15 million in funding, equivalent to approximately 795 million Egyptian pounds, from the European Bank for Reconstruction and Development (EBRD).
This new funding aims to enhance the company's ability to provide more loans to small and medium-sized enterprises (SMEs) in the Egyptian market. This step is part of the EBRD's efforts to support the local economy and provide the necessary financial liquidity for startups.
Small and medium-sized enterprises are considered a fundamental pillar of the Egyptian economy, as they contribute to creating new job opportunities and stimulating commercial activity. This financial support is expected to help companies expand their operations and develop their services across various sectors.
This agreement comes within the framework of ongoing cooperation between international financial institutions and the private sector in Egypt, with the aim of fostering economic growth and providing flexible financing solutions that help companies face current economic challenges.
GlobalCorp is expected to begin using these funds to support its credit portfolio, allowing a larger number of business owners to obtain the necessary financing to develop their projects in the coming period.