SMEs Need Evaluation Mechanism To Flourish: Khaled Nagaty

Khaled Nagaty, Chairman of the Egyptian Association for SMEs Support (ESME), stressed the importance of supporting small and medium enterprises (SMEs) as they significantly contribute to the national economy. There is a need to implement a mechanism to evaluate these projects, he continued.

On the sidelines of the 1st Annual Global Finance & Investment Conference, he noted that SMEs do not require liquidity and credit facilities only, but also an integrated system to support such enterprises.

Besides banks, the Central Bank of Egypt (CBE), Social Fund for Development (SFD), the Egyptian Credit Bureau “I-Score” and Egyptian Banking Institute (EBI) shall support SMEs, he affirmed.