Egypt - MEDA Empowers Youth in Microfinance

This USAID note discusses the Egyptian Association for Community Initiatives and Development (EACID). EACID is one of the larger non-bank organizations delivering financial services to the un-served markets in Egypt. The note states that:

• EACID was created in 1998 with support from the Canadian International Development Agency (CIDA);
• EACID works with the youth through the Promoting and Protecting the Interests of Children who Work (PPIC-Work) project;
• Through PPIC-Work, EACID provides financial services to business owners who employ children and also to family-run businesses to improve the working conditions and learning opportunities for children and youth;
• EACID, thus, has an opportunity to have a positive impact on the lives of children and youth who work in these businesses.

It concludes that:

• Despite being smaller than many Egyptian microfinance organizations, EACID has grown significantly over the past eight years and has established itself as a profitable microfinance organization in Upper Egypt;
• EACID is reaching a broad target market and the majority of its client households fall well below the poverty line;
• EACID's results present enormous potential for other non-bank organizations in Egypt and the Middle East to innovate in the financial services sector while meeting the bottom line.