MSME to finance 4,000 micro, small projects in Matrouh worth EGP 76.5m: chairperson 

Hossam Mounir
2 Min Read
The China Development Bank (CDB) will provide Egyptian banks with credit to finance projects in small and medium-sized enterprises (SMEs). (Photo courtesy of Ministry of Industry, Foreign Trade and Investment\File)

The Micro, Small, and Medium Enterprise Development Agency (MSME) has financed about 4,000 small and micro projects in Matrouh governorate with a total financing of EGP 76.5m which provided about 8,000 jobs, according to MSME Chairperson Nevine Gamea.

She added that the authority has also offered grants worth EGP 44m to implement labour-intensive infrastructure projects as well as community and human development projects that have provided about 6,000 permanent and temporary jobs.

This came during the first visit paid by Gamea and a delegation from the authority to Matrouh in order to follow up on the different economic and social activities implemented by the authority in the governorate, as well as discuss ways to expand financing SMEs and micro enterprises for the residents of Matrouh.

During the visit, Gamea noted that the authority injected about EGP 13m this year to finance 213 small and micro projects in Matrouh, providing 461 jobs. The authority also provided about EGP 775,000 worth of grants to fund training and community projects that have provided about 21,000 jobs.

“The authority works to contribute to the implementation of development programs adopted by the state to limit poverty and enhance citizens’ living conditions, in coordination and cooperation with different ministries and government institutions, as well as civil society associations, especially in border governorates,” Gamea said.

Gamea and Alaa Abou Zeid, the governor of Matrouh, held a meeting with 250 young investors from all Matrouh districts and a group of parliament representatives in order to discuss ways to facilitate the procedures to establish and fund projects as well as determine the problems facing them and how to overcome them.

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