Egypt in Talks over €45mn Financing for SMEs from Italy

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Egypt currently seeks a new Italian financing worth €45 million for the SMEs.

According to Egypt’s Minister of Industry and Trade Mounir Fakhry Abdel Nour, Egyptian authorities are currently in talks with the Italian government, seeking to obtain a new financing worth €45 million designated for the small and medium-sized enterprises.

The SME sector is critical to the Egyptian economic growth, he noted.

The minister made the announcement during his keynote speech in the light of signing four agreements between Egypt’s Social Fund for Development (SFD) and governorates of Giza, Beheira, Aswan, and New Valley.

The agreements are designated to finance labour-intensive projects in the four governorates provided by the Japanese government and the UNDP.