Egypt : Enhancing Access to Finance for Micro and Small Enterprises
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World Bank, Washington, DC
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This operation provides a $300m line of
credit (Financial Intermediary Loan) through Egypt's
Social Fund for Development (SFD), the apex body for micro
and small enterprise finance, which would on-lend on
commercial terms to eligible Non Governmental Organizations
(NGOs), potential microfinance institutions (MFIs), and
banks. The project objective is to increase micro and
small enterprise credit sustainably and broaden the outreach
of finance through innovative delivery mechanisms and
financial products. It plans to contribute to a sustainable
improvement in inclusive access to finance for micro and
small enterprises on a commercial basis. The Project went to
the Board in March 2010 and is planned to be completed at
the end of 2015. This note is based on the Project Appraisal
Document (PAD). The project is well underway as of the date
of this note but it is too early for any implementation
lessons to be collected. Overall, lack of access to finance
has been a major factor constraining the growth of micro and
small enterprises (MSEs) in Egypt. Microenterprise lending
in Egypt is supported by a fragmented set of hundreds of
NGOs distinct from the mainstream financial sector. SFD
finances 390 NGOs that are on-lending to microenterprises,
many of which are small in scale.
Palabras clave
ACCESS TO CREDIT, ACCESS TO FINANCE, ACCOUNTABILITY, ACCOUNTING, ADMINISTRATIVE COSTS, ADVANCED TECHNOLOGY, AGRICULTURAL CREDIT, ALLOCATION OF FUNDS, APEX INSTITUTIONS, BANK LENDING, BANK LINKAGES, BANKS, BORROWING, BRANCH, BRANCH INFRASTRUCTURE, BRANCH NETWORK, BRANCH NETWORKS, BRANCHES, BUSINESS DEVELOPMENT, BUSINESS DEVELOPMENT SERVICES, BUSINESS OWNERS, BUSINESS PLAN, CAPACITY BUILDING, CAPITAL FINANCE, COLLATERAL, COLLATERAL REGISTRY, COMMERCIAL TERMS, CORPORATIONS, COUNSEL, CREDIT BUREAU, CREDIT INFORMATION, CREDIT LINE, CREDIT SCORING, DEGREE OF RISK, DEPOSIT, DEPOSITS, DEVELOPING COUNTRIES, DEVELOPMENT BANK, DONOR FUNDS, ECONOMIC DEVELOPMENT, ELIGIBILITY CRITERIA, ENTERPRISE CREDIT, ENTERPRISE GROWTH, EXPANSION, EXTERNAL FINANCING, FINANCE COMPANIES, FINANCE INSTITUTION, FINANCES, FINANCIAL CRISIS, FINANCIAL INFRASTRUCTURE, FINANCIAL INSTITUTIONS, FINANCIAL INTERMEDIARY, FINANCIAL PRODUCTS, FINANCIAL RESTRUCTURING, FINANCIAL STATEMENTS, FINANCIAL SUSTAINABILITY, FINANCIAL SYSTEMS, FIRM SIZE, FIRMS, FOREIGN CAPITAL, GENDER, INFORMATION SYSTEMS, INSTITUTIONAL CAPACITY, INTERNATIONAL BANK, INTERNATIONAL DEVELOPMENT, INVESTMENT CAPITAL, INVESTMENT CLIMATE, INVESTMENT FINANCE, INVESTMENT LOAN, LACK OF ACCESS, LENDER, LENDERS, LENDING AGREEMENTS, LENDING POLICIES, LEVY, LINE OF CREDIT, LINES OF CREDIT, LOAN, LOAN ANALYSIS, LOAN APPLICATION, LOAN-TO-DEPOSIT RATIO, MAINSTREAMING GENDER, MANAGEMENT INFORMATION SYSTEMS, MFI, MFIS, MICROENTERPRISES, MICROFINANCE, MICROFINANCE INDUSTRY, MICROFINANCE INSTITUTIONS, MICROFINANCE MARKET, MICROFINANCE REGULATION, MICROFINANCE SECTOR, MOBILE PHONE, MOVEABLE COLLATERAL, OUTREACH, OVERDRAFT, OVERDRAFT FACILITIES, OVERDRAFT FACILITY, POST OFFICE, PRIVATE BANKS, PRIVATE CREDIT, PRIVATE CREDIT BUREAU, PROVISION OF CREDIT, REGULATORY FRAMEWORK, REGULATORY REFORMS, REGULATORY SYSTEM, RISK AVERSION, SMALL ENTERPRISE, SMALL ENTERPRISE FINANCE, SMALL ENTERPRISES, SMALL FIRMS, SOCIAL FUND, SPECIALIZED BANKS, TECHNICAL ASSISTANCE, TECHNICAL SUPPORT, WHOLESALE FUNDING, WORKING CAPITAL