The agreement aims to provide financial and technical support to micro-projects that have a positive impact on the climate in the areas of energy efficiency and renewable energy.
Egyptian Micro, Small and Medium Enterprises Development Agency (MSMEDA) and German KFW Development Bank partner to support renewable energy and green economy projects.
CEO of MSMEDA, Bassel Rahmy, signed an agreement with KFW Development Bank with €12 million investments. The agreement aims to provide financial and technical support to micro-projects that have a positive impact on the climate in the areas of energy efficiency and renewable energy.
Rahmy stressed that this new funding comes within the agency’s plan to contribute to the state’s efforts to reduce pollution, expand the use of clean energy, and provide the necessary financial resources to encourage project owners to use clean energy instead of traditional energy.
He added that this new financing provided by KFW Development Bank comes as a continuation of the previous cooperation between the two sides, which contributed to financing thousands of small projects.
MSMEDA recently signed an EGP150M funding contract with Tamweely Company to develop desert hinterland villages.
This came in the frame of the Agency’s contribution to state's plan to upgrade the micro enterprises sector to contribute to developing and reconstructing desert hinterland villages and optimizing the use of development projects economically and socially.
