Egypt’s MSMEDA invests EGP 1.3b in green projects

Egypt’s Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has financed nearly 21,000 small and micro green projects from July 2014 to December 2024, investing a total of 1.3 billion Egyptian pounds and generating 63,400 jobs, said CEO Basel Rahmy.

The funding aligns with MSMEDA’s comprehensive strategy to support environmental protection and advance Egypt’s green transformation goals.

Rahmy highlighted partnerships with global organisations such as the World Bank, the European Union, and the United Nations Development Programme (UNDP). These collaborations aim to create impactful strategies that enhance the environmental sustainability of projects supported by MSMEDA.

In a significant step towards sustainability, MSMEDA allocated 1.2 billion pounds to convert 150,000 vehicles to dual-fuel systems (natural gas and gasoline) over three years. This initiative, conducted in partnership with the Ministry of Petroleum and companies Cargas and GASTEC, seeks to reduce fuel consumption, lower pollution levels, and improve vehicle efficiency.

Rahmy reaffirmed MSMEDA’s commitment to Egypt’s green economy strategy by providing both technical and financial support to small business owners. The agency encourages environmentally compliant projects and promotes innovative green ventures with strong economic potential.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser