Egypt signs EGP75m deal to support SMEs

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By Aya Anwar
Egypt's Small and Medium Enterprises Development Authority (MSMEDA) has signed a 75 million-pound financing agreement with BM Leasing Company to support small and medium-sized projects across the country - Cabinet

Egypt’s Small and Medium Enterprises Development Authority (MSMEDA) has signed a 75 million-pound financing agreement with BM Leasing Company to support small and medium-sized projects across the country. The agreement, signed by CEO Basil Rahmi and BM Leasing’s Hisham Shata, aims to facilitate lease financing for both new and existing enterprises.

The initiative, part of the International Bank’s Entrepreneurship Stimulus Project for Job Creation, offers financing ranging from 250,000 pounds to 30 million pounds, depending on the project size.

Rahmi highlighted the Authority’s commitment to enhancing collaboration with financial institutions to provide tailored financing solutions and boost production capacity in a growing investment climate.

Moreover, Shata emphasised the importance of the agreement in promoting new projects and expanding existing ones, with a focus on encouraging young entrepreneurs and creative ideas.

Attribution: Egyptian Cabinet

Subediting: M. S. Salama

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