655 Thousand People Received 8.2 Billion Pounds to Finance Micro-Agricultural Projects

The microfinance activity in Egypt witnessed a remarkable growth in the value of financing balances, reaching 41 billion pounds by the end of the first quarter of 2023, compared to 30.18 billion pounds during the same quarter of last year.

Commercial activity ranked first at the end of the first quarter of 2023 in terms of the value of financing balances and the number of beneficiaries, with a value of financing balances amounting to about 24.36 billion pounds, for a number of beneficiaries amounting to 2.5 million beneficiaries, compared to the same arrangement at the end of the first quarter of 2022, in which the value of the balances amounted to Financing amounted to 18.3 billion pounds, for a number of beneficiaries amounting to about 2.3 million.

But the agricultural activity came in second place at the end of the first quarter of 2023 in terms of the value of financing balances and the number of beneficiaries, with a value of financing balances of about 8.2 billion pounds for the number of beneficiaries amounting to 655.5 thousand beneficiaries, compared to the same arrangement at the end of the first quarter of 2022.