Egypt to ink 45-million-euro loan deal with EU early next year

SHARM EL SHEIKH, Egypt, Dec 8 (MENA) - Executive Director of the Micro, Small and Medium Enterprise Development Agency (MSME) Nevine Gamea said Egypt will ink a 45-million-euro loan deal agreement with the European Union by the beginning of 2019.

In press statements on the fringe of Africa 2018 Forum, she said the deal will underline the EU's continued support to small enterprises in Egypt.

Egypt had also signed a 15-million-euro grant with the EU to support infrastructure development in six governorates, including Assiut, Giza, Sharqiya and Port Said, she said.

She pointed out that the agency has recently become affiliated to the cabinet, noting that the premier will be appointing its CEO for a four-year term.

She said that the agency realized great success with regard to the projects it funded, adding that it bankrolled 160,000 projects over the past six months and secured 305,000 jobs.