MSMEDA, Banque Misr ink EGP 500m deal to finance micro-enterprises

Micro, Small and Medium Enterprise Development Agency (MSMEDA) and  Banque Misr, signed an agreement worth 500 million Egyptian pounds to finance micro-enterprises.

The Egyptian Minister of Trade and Industry and Executive Director of Micro, Small and Medium Enterprise Development Agency (MSMEDA), Nevine Gamea, and the Chairman of Banque Misr, Mohamed El-Etreby have signed the agreement

The deal is under the framework of the World Bank’s project for catalysing entrepreneurship for job creation in all governorates.

Since 2011, total agreements signed between MSMEDA and Banque Misr have reached  1.3 billion pounds.

Under the deals, about 205,000 micro-enterprises have been financed with 2.5 billion pounds.