Egypt, World Bank sign SMEs new deal – minister

Egypt’s Investment Minister Sahar Nasr said on Tuesday cooperation between the World Bank and the Small and Medium Enterprises Development Authority reached $1 billion following the signing of the latest agreement to support entrepreneurship and small and medium-scale enterprises.

A statement released by the ministry said that Egypt and the World Bank signed the agreement worth $200 million at the end of a visit to Egypt by president of the World Bank Group David Malpass.

The agreement focuses on increasing the volume of available credit for small and medium-sized companies and enhancing access to it as well as encouraging entrepreneurship to create job opportunities and eliminating any obstacles facing youth and women with their startups, the minister said.

Source: MENA