Egypt’s MSMEDA negotiating €50 million loans from World Bank, EU

Egypt’s Micro, Small and Medium Enterprises Development Agency (MSMEDA) is negotiating for €50 million ($55.5 million) worth of loans from the World Bank and the European Union.

The loans are to finance community development and infrastructure projects in a number of governorates across the country, Medhat Massoud, MSMEDA’s head of human and social development sector, said on Tuesday.

“We are expecting to receive the new finances within 2020,” Massoud told Amwal Al Ghad.