Local Development Fund
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.
The fund provides micro and small loans for low-income families to raise their income and to reduce unemployment rates, said the minister.
The governorates are: Minya, Sohag, Beni Suef, Dakahlia, Gharbia, Luxor, New Valley, Sharkia and Menoufia.
Seventy-two projects will be implemented in the Delta city of Gharbiya and 69 others in the Upper Egyptian city of Minya.
Local Development Minister Mahmoud Shaarawi said coordination is underway with the Finance Ministry to pump an additional 7 million pounds to the Local Development Fund to bankroll micro and small size enterprises.
