Egypt’s Local Development Fund backs 2,000 small, micro projects in FY2024/25

Egypt’s Ministry of Local Development financed 2,047 small and micro projects through its Local Development Fund during the 2024/25 fiscal year, with total investments of 42 million Egyptian pounds, the ministry said on Monday.

Women accounted for 66 per cent of beneficiaries, with 1,348 projects supporting female entrepreneurs, particularly breadwinners in rural areas. A further 699 projects were granted to men.

The projects covered sectors including livestock, poultry, food and clothing retail, fertiliser and grain sales, meat and dairy, honey production and other home-based industries.

Local Development Minister Manal Awad said the ministry remains focused on empowering rural communities, creating sustainable jobs and supporting youth and women.

Mashrouak Initiative

Separately, the ministry adjusted financing tiers under its Mashrouak Initiative in coordination with banks such as Banque Misr, Banque du Caire, National Bank of Egypt (NBE), Agricultural Bank of Egypt, Housing and Development Bank, and AlexBank. Banque Misr financed 400 new projects between May and mid-June, while AlexBank expanded support to new applicant categories.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser