49% of all financing for SMEs, micro projects go to women: agency

CAIRO - 1 September 2024: A total of 49% of all financing for all medium, small and micro projects goes to women, 49% to Upper Egypt, and 48% to people 40 years old and younger.

Basil Rahmy, head of the Medium, Small, and Micro-Sized Enterprise Social Fund for Development met with Prime Minister Mostafa Madbouly on Sunday, where Rahmy reviewed the agency’s work from 1/1/2024 to 30/6/2024.

He reported that 70% of financing for medium projects goes to the industrial and agricultural sectors,  as the agency provided services at 31 regional offices across the country. 

A total of L.E. 2.8 billion was allocated to finance about 920 small projects, providing more than 9,250 job opportunities, and financing 10 medium projects, contributing to providing more than 1,270 other job opportunities.

Some 41,500 micro projects were also financed, providing about 115,000  job opportunities, as well as financing infrastructure, community development and training projects.