MSMEDA, Alexandria Businessmen Association sign EGP181m microfinance deal

Egypt’s Micro, Small and Medium Enterprise Development Agency (MSMEDA) and the Alexandria Businessmen Association have signed  a 181-million Egyptian pounds contract to finance microenterprises and support agricultural investments and livelihoods.

The agreement includes two projects: 100 million Egyptian pounds for microfinance and 81 million Egyptian pounds for agricultural development.

The funding is expected to benefit around 3,600 projects nationwide, with loans reaching up to 200,000 Egyptian pounds per project.

MSMEDA CEO Basel Rahmy stated that the deal is part of the agency’s efforts to expand cooperation with development partners, boost self-employment, and support promising sectors such as crafts and agriculture.

Attribution: Amwal Al Ghad English
Subediting: M. S. Salama