IFC Launches Five Projects to Support SMEs and Job Creation in Egypt and Africa
The International Finance Corporation (IFC) todayannounced five new projects aimed at supporting small and medium-sized enterprises (SMEs) and creating jobs in Egypt and other parts of Africa, targeting key sectors including climate finance, healthcare, and food security.
Building on the strategic partnership between IFC and Banque Misr, the new initiative seeks to expand green finance in Egypt and accelerate investments in energy efficiency, sustainable transport, green buildings, and renewable energy. Backed by a $150 million investment, the project enhances access to finance for micro, small, and medium-sized enterprises, with 20% of the lending earmarked for women-owned businesses.
IFC also launched an advisory program with the Export Development Bank of Egypt to strengthen data governance and climate reporting mechanisms under IFC’s “Egypt 3030by” program. Through this initiative, the bank will identify and track the impact of green transactions, supporting the strategic shift toward climate-positive projects and Egypt’s transition to a green economy.
In addition, IFC partnered with Global Corp to expand access to leasing and factoring services for micro, small, and medium-sized enterprises, with a focus on businesses operating in underserved communities across Egypt. Supported by a $30 million dual-currency investment, the partnership advances capital market development through IFC’s first local-currency securitization in Egypt and the country’s first development finance institution (DFI) investment in leasing receivables securitization.
Another partnership was announced with G Medical Holding and its subsidiaries (EgyMed) to expand access to high-quality healthcare services in Egypt and East Africa. The initiative focuses on increasing production capacity and supplying advanced medical products and equipment, while strengthening healthcare infrastructure and building local capacity through specialized training for medical staff, supported by a $15 million investment.
IFC also partnered with Breadfast, a leading multi-sector consumer supply chain technology platform in Egypt, to support expansion and job creation across logistics, manufacturing, technology, and customer service. With a $13 million investment, the initiative promotes national employment and economic growth, while strengthening food security by improving distribution infrastructure and enabling SMEs to access broader retail markets.