MSMEDA, EBE sign EGP40mln deal on supporting young exporters

Big 5

The Micro, Small and Medium Enterprises Development Agency (MSMEDA) has signed an agreement of 40 million Egyptian pounds with Export Development Bank of Egypt during the last  days, its Managing Director Nevein Gamea said.

Gamea told Amwal Al Ghad that the new agreement is directed to young exporters within the frame work of MSMEDA’s  keenness on supporting the SME’s exports especially to North Africa.

On the other hand, MSMEDA has also signed number of finance packages with QNB worth 100 million pounds and Industrial Development & Workers Bank of Egypt  worth 100 million pounds among other banks to support SMEs .

Gamea  further noted that MSMEDA pumped 1.5 billion pounds into small and micro enterprises during the first quarter of 2019,  seeking to reach funding  6 billion pounds by the end of the year.