Egyptian SME finance study introduced by IFC
A new study examining the difficulty small and medium-sized enterprises (SMEs) in Egypt have when trying to obtain finance has been launched by the International Finance Corporation (IFC).The body has partnered with the Union of Arab Banks (UAB) for the investigation, which will place particular emphasis on the challenges faced by female business owners. Results are due to be published in June 2011 and the aim of the investigation is to help Egyptian banks develop financial products that are better suited to SMEs.
Regional Business Line Leader for Access to Finance at the IFC Jim Gohary said the research "will provide a great opening for dialogue at a national level on the availability of finance for women-owned business in Egypt". Adnan Youssef, Chairman of the UAB - which was founded in 1974 and counts a number of North African financial institutions among its members - added the project will help "set a clear roadmap" for improving access to finance.