MSMEDA funds 4,000 projects in Matrouh with LE 76.5 billion

CAIRO – 20 December 2017: The Micro, Small and Medium Enterprises Development Agency (MSMEDA) financed LE 76.5 million to approximately 4,000 projects in Marsa Matrouh governorate, MSMEDA Director Nevine Gamea said Wednesday.

Around LE 44 million were directed to infrastructure, labor-intensive and development projects, creating 6,000 job opportunities, Gamea added.

Gamea made the announcement while visiting Marsa Matrouh, where she met 250 young investors, company heads and Members of Parliament, to discuss facilitating business procedures in the governorate.

On April 24, Prime Minister Sherif Ismail issued a decree to merge the Social Fund for Development (SFD) with the MSMEDA to become one entity, working to upgrade and develop the SMEs sector by offering financial and non-financial services.

The agency is coordinating with all SMEs entities and initiatives to make sure these calls are implemented.

MSMEDA will launch new training programs that will develop skills of project founders. There are four programs certified by the International Labour Organization (ILO).