Egypt: CBE Governor Signs We-Fi Code to Support Female Entrepreneurs

3 July 2024
Egypt State Information Service (Cairo)

Governor of the Central Bank of Egypt (CBE) Hassan Abdalla on Tuesday 2/7/2024 signed the code of the Women Entrepreneurs Finance Initiative (We-Fi) with the European Bank for Reconstruction and Development (EBRD).

The initiative is aimed at increasing financial assistance to women-led micro, small and medium-sized enterprises in Egypt and providing the necessary technical support for them.

The signing ceremony was attended by EBRD's First Vice President and Head of Client Services Group Jürgen Rigterink and EBRD's Vice President for Banking Affairs Matteo Patrone, as well as a number of CBE officials.

Abdallah said the initiative is consistent with the State's strategy for enhancing financial inclusion for women, and comes as part the CBE's efforts to provide more funding opportunities for female entrepreneurs in coordination with all bodies concerned.

For his part, Rigterink said the CBE was pioneer in promoting financial inclusion, especially with regard to offering financial assistance to women-led micro, small and medium-sized enterprises.

He added the EBRD will provide technical support for the Egyptian banking sector, financial service providers and relevant parties to strengthen financial inclusion for women and develop appropriate financial and non-financial products for them.

Rigterink stated that a sum of money would be allocated through the initiative to back Egypt's efforts aimed at achieving gender equality and reducing funding gaps for female entrepreneurs.

Read the original article on Egypt Online.

Tagged:
Copyright © 2024 Egypt State Information Service. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.