There are more than 400 institutions in Egypt offering microcredit, including five banks and more than 396 non-governmental organisations (NGOs). Of these organisations, only 18 have reached more than 10’000 clients, indicating that the sector remains highly fragmented. The overall penetration rate of the market is estimated at less than 10 percent, largely because providers have focused only on major metropolitan areas such as Cairo, Alexandria and Assiut. The United States Agency for International Development has estimated the demand for microfinance in Egypt is at 20 million households.