FRA: Funds set for micro-sized projects amount to LE 18.7B by end of 2020

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Tue, 19 Jan 2021 - 01:44 GMT

FILE – Chairperson of the Egyptian Financial Supervisory Authority (EFSA), Mohamed Omran

FILE – Chairperson of the Egyptian Financial Supervisory Authority (EFSA), Mohamed Omran

CAIRO - 19 January 2021: The volume of funds allocated for micro-sized projects has reached LE 18.7 billion by the end of 2020; up 13.3 percent on the year before, according to the Financial Regulatory Authority. 


Some 3.1 million persons have benefited from the funds, said FRA chairman Mohamed Omran in a press conference Tuesday. 


Funds of micro-sized enterprises amounted to 17.8 billion pounds during the first quarter of 2020, Omran said via video conference.
 

He blamed the coronavirus pandemic for slow growth rates reported in the end of 2020. 

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