Egypt’s MSMEDA signs EGP 5m deal to fund microfinance projects in Aswan

Egypt’s Micro, Small and Medium Enterprise Development Agency (MSMEDA) signed on Sunday a new contract worth five million Egyptian pounds with the Om Shelbaya Community Development Association to fund microfinance projects in Aswan Governorate.

This initiative, part of a larger World Bank agreement, aims to support around 500 microfinance projects in the govenorate. The funds will be used to provide capital to new and existing small businesses, stimulating growth and job creation.

Attribution: The Egyptian Cabinet statement

Subediting: Y.Yasser