MSMEDA provides EGP4.1 bln to SMEs in 9 months

The Micro, Small and Medium Enterprises Development Agency (MSMEDA) has provided funds at a value of 4.1 billion Egyptian pounds for 189,000 micro and small projects between January and September 2018, MSMEDA Director Nevine Gamea.

Gamea added that MSMEDA has pumped  funds of 23 million pounds to infrastructure, community development projects and training, providing 132,000 job opportunities.

MSMEDA, the governmental entity responsible for micro,SMEs projects in Egypt, offers funds for SMEs projects either directly or through banks as mediators.

On April 24, Prime Minister Sherif Ismail issued a decree to merge the Social Fund for Development (SFD) with the MSMEDA to become one entity, working to upgrade and develop the SMEs sector by offering financial and non-financial services.