IFC commits $60 mln to support small businesses, job creation in Egypt

The announcement was made on the sidelines of the 2025 Africa Financial Industry Summit held in Casablanca, where the IFC unveiled a series of partnerships aimed at expanding access to finance and boosting employment.

In Egypt, the IFC will provide a $50 million financing package to the Suez Canal Bank to enhance lending to small businesses, particularly in underserved areas. A quarter of the funding will be directed toward women-owned enterprises, in line with efforts to close the gender financing gap and promote inclusive economic participation.

The IFC also signed a $10 million risk-sharing agreement with Attijariwafa Bank Egypt to expand financing for small and medium-sized enterprises (SMEs). The facility will prioritize women-led businesses and SMEs operating in marginalized communities.

The initiative is supported by the PROSPECTS Partnership, which focuses on strengthening host and forcibly displaced populations.

The new investments align with Egypt’s broader strategy to empower the private sector and foster job creation, especially in high-impact segments of the economy.

The IFC co-hosted the two-day summit in partnership with Jeune Afrique Media Group and the Kingdom of Morocco. 

The summit featured discussions among African central bank governors, regulators, financial institutions, and fintech innovators on how the continent can best leverage its own resources and attract more foreign investment to shape its financial future, drive job creation, and promote sustainable economic growth.