Minister: Gov't launches initiative supporting small projects harmed by corona

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Tue, 07 Apr 2020 - 10:37 GMT

FILE - Minister of Trade and Industry Nevein Gamea

FILE - Minister of Trade and Industry Nevein Gamea

CAIRO - 7 April 2020: Minister of Trade and Industry Neveen Gamea on Tuesday announced a new initiative for supporting small projects that are affected by coronavirus.

In a press statement, she added that the Projects Development Executive Authority will offer loans for these projects to guarantee their operation.

She pointed out that the period of these loans will not exceed one year to provide the capital necessary of funding these projects.

The initiative comes in implementation of directives by the government for supporting small projects in an effort to confront the negative economic impact of the coronavirus, she noted.

The ceiling of this loan will be LE 1 million, she added.

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