Egypt’s Mashroak pumps EGP 16.5bn into 158k SMEs

The Egyptian National Programme for Community, Human, and Local Development (Mashroak) has financed about 158,000 small- and medium-sized enterprises (SMEs) with about 16.5 billion Egyptian pounds, according to the Minister of Local Development, Mahmoud Shaarawy.

The financed SMEs have led to the creation of more than 900,000 jobs, Shaarawy revealed.

He affirmed that the country is committed to supporting micro, small, and medium enterprises (MSMEs) through easing procedures for establishing these enterprises in order to increase their contribution to economic and social development.