Global Corp secures $15 million in funding to support small businesses in Egypt
Global Corp for Financial Services has announced that it has secured new funding of 15 million US dollars, equivalent to approximately 795 million Egyptian pounds. This funding comes from the European Bank for Reconstruction and Development (EBRD) in a move aimed at strengthening the company's financial capabilities in the Egyptian market.
This agreement primarily aims to expand the loan portfolio dedicated to small, medium, and micro-enterprises. These companies are considered a fundamental pillar of the Egyptian economy, as they contribute to creating new job opportunities and supporting economic growth across various sectors.
Through this financial support, Global Corp seeks to provide more flexible and diverse financing solutions to business owners. This step helps small companies develop their projects, purchase necessary equipment, and increase their productivity to meet the needs of the local market.
This collaboration comes within the framework of the European Bank for Reconstruction and Development's efforts to support the private sector in Egypt. This partnership underscores confidence in the stability of the Egyptian market and its ability to attract international investments that contribute to driving sustainable development.
In conclusion, this funding is expected to have a tangible positive impact on the small business sector in Egypt over the coming period, helping to enhance financial inclusion and provide the necessary liquidity for the growth and expansion of both startups and existing companies.