Egyptian Currency – File Photo
CAIRO - 2 February 2022: The Egyptian Micro, Small and Medium Enterprises Development Agency (MSMEDA) financed small projects with a total of LE 2.7 billion during 2021, according to head of the central sector for financing small projects at MSMEDA, Hany Emad,
He stated in a statement, that through this financing, about 35,000 projects were implemented that provided more than 42,000 job opportunities, and indicated that this funding was through direct lending to the agency with a total of LE 973.5 million and LE 1.7 billion through Through the intermediaries with which the agency cooperates.
Emad pointed out that in accordance with the new project development law, the agency will start financing medium-sized projects, up to a maximum of LE 30 million pounds, so that the agency will provide various aspects of financing that help its clients to grow, expand and continue.
This came during a workshop organized by the MSMEDA to introduce the facilitation of Project Development Law 152 of 2020.