Egypt - Rural Income and Economic Enhancement Project (RIEEP)

The rural income and economic enhancement project (RIEEP) is initiated in order to fill a gap in the financial market and create opportunities to improve agriculture-derived livelihoods of poor rural producers and enable smallholder producers to benefit from efficient markets and local-level value addition. The project is a sovereign long term loan to the Government of Egypt with a subsidiary on-lending agreement to the Egypt SFD which will on-lend the loan to Partner Financial Intermediaries (PFIs) for lending to agribusiness enterprises. The project with an overall cost of USD73 million for a five-year period will seek to provide finance to at least 4,800 small scale agribusiness enterprises and 20,000 micro enterprises, creating over 60,500 jobs over the 5-year period of the project. The project comprises two (02) components, namely: capacity building and access to finance.