The development financing, worth EGP 2.8 billion, was distributed to separate groups, with founders aged 30-40 years old receiving 36%
Egypt’s Medium, Small and Micro Enterprise Development Agency (MSMEDA) financed over 87 thousand projects in the first half of 2021 (H1 2021), totaling in 146 thousand job opportunities, states agency CEO Nevine Gamea.
The development financing, worth EGP 2.8 billion, was distributed to separate groups, with founders aged 30-40 years old receiving 36%, and certain Upper Egypt governorates receiving more than 43%.
Gamea, also Minister of Trade and Industry, called on citizens to take advantage of the various services provided by the Project Development Authority, which finance new and existing projects, and provide new facilities and benefits through the Project Development Law, and other benefits.
The agency head highlighted the MSMEDA’s coordination efforts with various concerned authorities to support to the small enterprise sector, and to provide the appropriate environment to encourage citizens to engage in self-employment and entrepreneurship.
Through launching new small projects, contributes to reducing imports and supporting the national economy, and providing thousands of job opportunities, as well as meeting the needs of the local market.
According to Gamea, the agency has issued over 2,600 certificates to projects to benefit from the law, and issued more than 550 licenses to projects operating in the informal sector to officialize their conversion to the formal sector.
Companies looking to reach the agency can call 16733, or through its website.
