Egypt’s MSMEDA offers EGP 3.7bn funding in 11M

Egypt’s Micro, Small and Medium Enterprise Development Agency (MSMEDA) has injected 3.7 billion Egyptian pounds into 124,000 MSMEs with during the first 11 months of 2020.

These enterprises have created around 195,000 jobs, the Chairman of MSMESA and the Minister of Trade and Industry, Nevine Gamea, said.

In addition, the MSMESA has invested 119 million pounds in implementing infrastructure and community development projects in various governorates in order to create a conducive environment for MSMEs and help provide jobs for irregular workers which resulted in creating nearly 301,000 daily jobs.

The Upper Egyptian region accounted for 46 percent of total funding provided by MSMESA, Gamea revealed.