Local development fund’s loans increased to LE60,000 – Min.

CAIRO - 28 July 2022: Minister of Local Development Mahmoud Shaarawy said the maximum rate of loans of the Local Development Fund has been increased to LE 60,000.

 

The ministry said in a statement on Thursday that procedures have been simplified to get the fund’s loans nationwide, noting that LE 15 million has been allocated to finance small and micro enterprises.

 

The fund works on supporting economic development, particularly in the countryside, carrying out small and micro enterprises through offering soft loans for the needy, women with children and people with special needs.

 

Such efforts aim to increase income for rural families and create job opportunities to limit unemployment, the note added.