03 Mar 2021

Government Financing of Micro-Enterprises

Egyptian Micro, Small and Medium Enterprises Development Agency (MSMEDA) pumped funds into micro-projects during the period from July 2014 to December 2020, at a value of EGP13.5bn, according to CEO of MSMEDA and Trade Ministry Nevine Gamea. Gamea added Tuesday that 1.24m micro-projects were funded during that period, providing more than 1.613m job opportunities. She stated that the agency succeeded in attracting a large number of donors to provide the necessary funding

for the growth of this sector, in addition to expanding the number of banks and NGOs that the agency cooperates with, which helped it reach a greater number of citizens in the areas most in need to improve their standard of living and creating stable job opportunities through microenterprises. (Source: Egypt Today)