Egypt’s MSMEDA targets EGP 3bn funding to micro businesses during 2020

The Egyptian Micro, Small and Medium Enterprise Development Agency (MSMEDA) aims to provide about 200,000 micro-loans valued at 3 billion Egyptian pounds during 2020, the executive director of MSMEDA and minister of trade and industry, Nevine Gamea, said.

From early 2019 until the end of April, MSMEDA provided about 240,000 micro-enterprises with a funding worth 3.5 billion pounds, Gamea added in a statement on Tuesday.

These projects contributed to creating about 360,000 jobs, she noted