Social Fund for Development (Egypt)

Social Fund for Development (Egypt) was established in 1991 by a Presidential decree # 189 and with support of the United Nations Development Programme. SFD was created with a capital of 1.1 Billion Egyptian Pounds to alleviate the hardship created by the returning Egyptian workers from the Gulf area as a result of the First Gulf War. According to Magdy Moussa, Middle East Regional Director at Plant Finance, "SFD was regarded as a social safety net associated with the Government of Egypt's agreement to undertake its extensive Economic Reform and Structural Adjustment Program."[1] SFD focuses on sustainable development projects.[citation needed] Also according to Moussa, a prominent focal point for SFD is promoting self-employment through microcredit projects.

Major donors are: the World Bank, the European Union, Germany , JICA, Kuwaiti Development Fund.

## References

1. ↑ Magdy Moussa (January 2007). Regulation and Supervision of Microfinance in Egypt. Essays on Regulation and Supervision series, Microfinance Regulation and Supervision Resource Center.

0.00

(0 votes)

Original source: https://en.wikipedia.org/wiki/Social Fund for Development (Egypt). Read more

|

Retrieved from "https://handwiki.org/wiki/index.php?title=Organization:Social_Fund_for_Development_(Egypt)&oldid=947754"