Beltone and Dutch fund sign deal to support low-income projects in Egypt

The agreement stipulated the launch of the "Underprivileged Entrepreneurs Reach Project", which targets providing finance to entrepreneurs, with a special focus on women and youth.

Funded by the Netherlands government, CFYE enables youth employment by supporting the private sector in the Middle East and Africa.

Cash for Microfinance will utilize mobile branches to bring financial services closer to underserved communities, deploying dedicated female loan officers who will be equipped with the necessary tools to eliminate long commuting distances, specifically benefiting women.

The company will also offer incremental loans, provide financial support for participation in local fairs, and assist in the development of a social media presence for entrepreneurs.

“We aim to create numerous job opportunities, enhance skills and contribute to the microfinance sector's growth,” said Morcos Nabil, CEO of Cash for Microfinance.

For her part, Ola Farrag, CFYE Country Lead said that the project is expected to create about 2,500 jobs for youth.