FinTech

The Project Development Agency signs an agreement worth 160 million pounds with Aman Consumer Finance Company

Basil Rahmi, the CEO of the Project Development Agency, witnessed the signing of two contracts between the agency and Aman for Project Financing, with a total amount of 160 million Egyptian pounds.

The first contract, amounting to 100 million pounds, is in line with the microfinance project to fund all targeted categories in all governorates.

The second contract, worth 60 million pounds, is allocated for women in all governorates as part of the Women’s Support Project for Microfinance.

The contracts were signed by Nevine Badr El-Din, the head of the Central Sector for Microfinance at the Project Development Agency, along with Engineer Hazem Mghazi, the CEO of Business and Commercial Affairs at Aman Holding, and Ayman Bessuni, the CEO and Managing Director of Aman for Project Financing.

Basil Rahmi, the CEO of the Project Development Agency, emphasized that the signing of these contracts marks the beginning of implementing the agency’s action plans in 2024.

This aligns with the state’s directives to expand microfinance projects, collaborate with more specialized companies in this field, and positively impact citizens, especially women, across various governorates.

The focus is on the northern and border regions, assisting them in initiating new projects or developing existing ones to enhance their living standards.

Rahmi added that these contracts will finance around 6,400 clients across all governorates, working in various business sectors.

The emphasis is on productive and industrial projects due to their capability to meet the needs of local markets and reduce imports.

Engineer Hazem Mghazi, the CEO of Business and Commercial Affairs at Aman Holding, expressed his satisfaction with the ongoing fruitful collaboration with the Project Development Agency. This collaboration reflects Aman’s commitment to supporting innovation in the local economy.

He looks forward to continuing cooperation with the agency in the future, aiming to increase the success opportunities for small projects in more governorates.

Mghazi affirmed that this achievement enables the company to strengthen its role in growth and job creation in Egypt.

It underscores the company’s commitment to supporting entrepreneurs and realizing their ambitions in the small projects sector.

This affirmation comes in light of the company’s success in providing substantial funding in the Egyptian market, reflecting its continuous commitment to supporting small and medium-sized projects and economic infrastructure in Egypt.

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