Microfinance Analysis to Support Egyptian Economic Reform

April.01.2012

A team of attorneys is continuing the firm’s support for PILPG and its work in Egypy.  PILPG began providing legal advice to civil society groups in Egypt soon after the 2011 uprising, which toppled the government of Hosni Mubarak and called for democratic changes in Egypt’s political structure.  During the year since the revolution, Egypt’s economy has suffered drastically from the upheaval and instability, and is now facing crisis.  Egypt is currently in negotiations with the International Monetary Fund, but also needs to bolster its private sector in other ways to fight the recession.  As a way to bolster the economy, a think tank in Egypt, Global Trade Matters, has requested PILPG’s assistance in examining microfinance mechanisms as an option for Egypt to help low-income citizens build sustainable businesses.  Accordingly, the Orrick team, consisting of New York corporate associate Jonas Robison, Tokyo managing real estate associateAndrew Hughes and pro bono counsel Rene Kathawala will draft a comparative state practice memorandum analyzing three other states’ microfinance systems in order to determine the best practices and lessons for Egyptians to learn as they consider reforming their microfinance system.