Egypt’s MSMEDA offers EGP 27bn funding since inception in 2014

The Egyptian Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has injected more than 27 billion Egyptian pounds into SMEs within six years increasing its funding five folds, MSMEDA’s executive director and the minister of trade and industry, Nevine Gamea, said.

From July 2014 to April 2020, MSMEDA financed over 1.267 million micro and small enterprises with 27.1 billion pounds, representing 60 percent of the total funding injected into this sector from January 1992 to the end of last April, Gamea added.

The agency also provided non-financial services to owners of these projects, offering single-window services to above 360,000 enterprises in all governorates. In addition, 15,800 exhibitors participated in 797 forums and achieved sales and contracts worth  262 million pounds.