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EFSA Participates in a Training Program on Microfinance in Britain

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• Dr. Mohammed Omran: beneficiaries of microfinance increased to 2.01 million beneficiaries by the end of the second quarter of 2017.
• The value of microfinance was 5.54 billion pounds by the end of the second quarter of 2017.

Within the framework of developing the skills of EFSA’s staff and informing them of the latest developments and international experiences in the field of their work, EFSA has participated in a training program organized by British Microfinance Institution, which is one of the international organizations interested in microfinance and training of human cadres from around the world in this area.

Dr. Mohamed Omran, – EFSA’s Acting Chairman reviewed the report of EFSA’s  representative on the training program where it discussed practical cases for establishments working in microfinance with a focus on the sustainability of these establishments. Also, the program discussed impacts of using electronic payment systems on financial inclusion.

Dr. Mohamed Omran stressed on the importance of microfinance especially after the issuance of Law no. 141 of 2014 and its impact on increasing the rate of economic and social development. He pointed to the boom that has occurred in the activity during the previous period. The growth rate by the end of the second quarter of 2017 was 11.66% with a value of 5.54 billion EGP compared to 4.96 billion pounds by the end of the first quarter of the same year. He added that the number of beneficiaries reached 2.01 million beneficiaries by the end of the second quarter of 2017 compared to 1.90 million Beneficiaries by the end of the first quarter of the same year.
 

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Abbreviation: FRA
Jurisdiction: Egypt

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