Egypt’s MSMEDA injects EGP15.6bln into 2.7mln micro projects

Egypt’s Micro, Small, and Medium Enterprise Development Authority (MSMEDA) has pump 15.6 billion Egyptian pounds into micro projects since its inception, its head Nevine Gamea said.

These finances were provided to 2.7 million clients creating 3.2 million job opportunities, she added.

MSMEDA, previously known as the Social Fund for Development, is an autonomous development and poverty-alleviation agency, established in 1991 with support of the United Nations Development Programme (UNDP).

t is an agency affiliated to Egypt’s Cabinet, designed to act as a social safety net to undertake the government’s economic reform programme by developing the MSME sector directly or through the coordination of the efforts of the different stakeholders.