Micro
The Micro, Small and Medium Enterprise Development Agency announced that it has succeeded, from July 2014 to August 2024, in pumping about EGP 2.5 billion in financing 57,000 small and micro projects.
These projects come to present all aspects of support to the projects of the youth and women.
These projects secured around 66,000 job opportunities for young people across the nation, Gamea added in a statement released by the agency on Sunday.
MSME clarified that this agreement is to finance small and medium enterprises.
This came during a press conference held Wednesday in the headquarters of MSME, in the presence of representatives of KfW Bankengruppe and the European Union.
Board member of the Micro, Small, and Medium Enterprise Development Authority emphasized the importance of issuing a law to enhance the sector's contribution.
Salah clarified that small and medium enterprises allocated around LE 46 billion out of the total funds.
Micro, Small and Medium Enterprise Development Agency’s (MSMEDA) loans to women hiked 84.98 percent in four years.
This movement comes to take advantage of available gas reserves and to reduce the import of conventional fuel, which incurs a huge cost of foreign currency.
About 62,000 small and micro projects were funded, providing nearly 97,000 jobs during the period from January to March 2019.
The Local Development Fund provided loans worth LE27 million for 3,511 micro and small enterprises in 11 governorates in the FY2018-2019.
The total loans of small and micro enterprises with a total funding of LE39.6 billion, financed 3 million projects and provided about 4.8 million jobs.
These projects provided 642,000 job opportunities, noting that women's participation in the projects recorded 49 percent.
The deal was inked with a number of civil society organizations in five governorates, which are Sharqia, Minya, Beni Suef, Qena and Sohag.
The delegation is led by Chairman of Sharjah Economic Development Department (SEDD) Sultan Abdullah bin Hadda al Suwaidi.
Plus Leasing will sign 44 contracts with SMEs, expecting to create 220 new job opportunities, Nevine Gamea said.
Around LE 44 million were directed towards infrastructure, labor-intensive and development projects: MSMEDA Director, Nevine Gamea.
“The group of experts will work on exchanging know-hows and technical expertise for the benefit of the two countries,” Kabil stated.
The agency works to upgrade and develop the SMEs sector by offering financial and non-financial services.
