MSMEDA provides LE 4.1B to fund 128k projects over 10 months in 2023

CAIRO – 29 November 2023: Over the course of 10 months, the Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has allocated approximately EGP 4.1 billion to fund 128,000 projects throughout Egypt, resulting in the creation of 212,000 job opportunities.

Rahmy highlighted that MSMEDA organized a total of 138 exhibitions, attracting nearly 3,400 exhibitors and generating sales and contract revenues amounting to EGP 270.8 million.

In terms of supporting small-scale initiatives in North Sinai, Rahmy revealed that MSMEDA invested EGP 240 million in 15,600 projects.

Furthermore, in early November, Rahmy stated that between 2014 and 2023, MSMEDA had disbursed around EGP 642 million to finance approximately 9,000 small and micro projects in the North and South Sinai governorates, resulting in approximately 20,000 job opportunities.

These efforts align with the government's strategy to develop and rebuild Sinai while fostering a favorable business environment for the growth of small projects, as emphasized by MSMEDA's CEO.