CAIRO – 3 January 2021: The size of the financing portfolio granted to micro-projects by associations, non-governmental institutions and financing companies amounted to LE 18.2 billion, from which about 3.2 million beneficiaries benefited - 63 percent of whom are females by the end of November 2020, Head of Financial Regulatory Authority (FRA) Mohamed Omran said Sunday. He pointed out that about 416,000 clients have benefited from it (27 percent to disburse financing, 73 percent to pay installments), about 60 percent of which are projects owned and managed by women. Omran indicated that during the first week of January 2021, the activities of the first axis of the "Digital Financial Inclusion 2021" initiative, which is spreading knowledge of the mechanisms of digital financial inclusion, will begin. A series of awareness seminars will be presented over the Internet on the issue of cashless payment and its developments in the activity of micro-finance projects and decisions. Omran affirmed his keenness to ensure that its effectiveness is characterized by using various digital technology tools throughout the year.

Source: Egypt Today January 03, 2021 13:26 UTC