Egypt’s Mashroak injects EGP11bln into 130,00 SMEs

A total of 130.557 small- and medium-sized enterprises (SMEs) have been financed with 11.73 billion under “Mashroak” (Your Project) initiative, according to Minister of Local Development Mahmoud Sharawy.

He pointed out that the governorates of Minya, Beheira, Sohag and Dakahlia has captured the bulk of projects implemented under the initiative where the carried out in Minya exceeded 16,000 projects providing 85,000 jobs.

While in Beheira  14 thousand projects were established creating 60,000 . however, Sohag has 13.7 project , and 11.3 projects in Dakhalia.

This programme is part of the Central Bank of Egypt’s (CBE) initiative to support SMEs with loans at interest rates not exceeding 5%.