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Better services are provided to the underprivileged and deprived
communities, and more basic infrastructure projects are built.
Concepts like poverty alleviation, women mainstreaming, and NGO’s
capacity building have been unprecedently and courageously
introduced and supported. |
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Through its core programs, SFD aimed at increasing the national
base of the small and medium enterprise sector in Egypt. up to
June 2002, it has succeeded in creating 651,563 job opportunities
through the establishment of 174,813 micro, small and medium
enterprises. |
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None of these would have been possible without the real support of
the Egyptian government side by side with donor countries. Egypt’s
Prime Minister H. E. Dr. Atef Ebeid has repeatedly declared that
SFD should be a permanent organization entrusted with small
enterprise development, while coordinating the overall effort with
stakeholders in both public and private sectors. In addition, His
Excellency has recently requested that the amount of SFD revolving
funds be augmented to L.E. 5 billion annually to sponsor Egyptian
start-up entrepreneurs and expand existing SMEs. Donor countries
have also recommended that SFD be a self-sustained development
institution. This has marked the beginning of a new challenge. |
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As
different phases require different orientations, SFD is undergoing
an overall restructuring just to render its operations more
effective and credible with a modicum of resources following the
principle of “Management by Objectives”. The aim of restructuring
SFD is to accomplish its functions in a timely and cost effective
manner. |
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SFD
will continue to play its role, yet with more candor and renewed
commitment, executing integrated development schemes to benefit an
even greater number and cross-section of beneficiaries throughout
Egypt. With the implementation of new strategy-oriented mechanisms
and approaches based on monitoring and evaluation, SFD will
continue to remaining an organization dedicated to achievements
and linked to market needs. |
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Finally, I wish that such few words would be an invitation for SFD
staff having the professional skills, high qualifications,
dedication and commitment to seriously and efficiently proceed
with accomplishing all duties to be assigned to SFD in the coming
phase. |
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Mohamed Hany
Seif El Nasr
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SFD Board Meeting : |
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SFD
Board has recently met under the presidency of Egypt’s Prime
Minister and SFD Board Chairman Dr. Atef Ebeid. The Board
discussed defaulting cases and decided to halt legal procedures
against all defaulters. It has also been agreed with the Central
Bank to re-schedule debts on defaulters and give them a one-month
deferment in order to examine all defaulting cases and work out
proper solutions to each case apart. Noteworthy to mention that
defaulting rate only makes about 0.8% of total loan amounts
disbursed to beneficiaries. |
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Prime Minister Dr. Atef Ebeid has emphasized that SFD’s core
objectives in the coming phase will be represented in developing
small enterprises, and will focus on public projects that SFD
contributes to finance in new urban cities and communities. These
projects create stable employment opportunities and provide
integrated basic services. |
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In
addition, SFD Managing Director has said a monthly SFD Board
meeting will be convened to follow up the implementation of
decisions approved, and propose new mechanisms and policies for
rendering SFD operations more streamlined and cost-effective.
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Copyright © 2001 Social Fund for Development Egypt All rights
reserved |
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