Egypt’s Local Development Fund pumps EGP 24.3m into 2,194 small projects in 6M

Egypt’s Local Development Fund (LDF) financed 2,194 small and micro projects with 24.3 million Egyptian pounds during the period from July 2020 to January 2021.

Minya topped the governorates receiving loans from the fund with 445 projects, followed by Dakahlia and Sohag with 389 projects and 290 projects, respectively, and Gharbia and Sharqiya with 269 projects and 174 projects, respectively, according to the Minister of Local Development, Mahmoud Shaarawy.

In January 2021, the LDF approved financing 203 small and micro projects in nine governorates with more than 2.3 million pounds.

The governorates are Minya, Sohag, Beni Suef, Dakahlia, Gharbia, Luxor, New Valley, Sharqiya, and Menoufia. A total of 130 projects are owned by women, representing 64% of the total number of projects.