MSMEDA injects EGP 316m to finance 12,000 small projects in Suez

Hossam Mounir
3 Min Read

The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) has funded nearly 12,000 small and micro projects in Suez governorate, with a total of EGP 316m. The funds have been injected from 1992 until 2018, according to Nevine Gamea, chairperson of the MSMEDA.

She said that the projects funded by the agency in Suez have provided nearly 30,000 jobs, pointing out that the agency has also provided grants worth EGP 47m to implement infrastructure and social development projects in the governorate, providing nearly 4,000 temporary jobs.

In 2018, the agency injected about EGP 46m to fund about 970 small and micro projects in Suez, providing about 2,000 jobs.

Gamea stressed that the agency is keen on helping to advance various bodies and institutions of the state, as well as contributing to establish successful and profitable projects for youth to improve their social and economic situations through providing funding, training, and marketing services, and issuing the necessary licenses.

On Sunday, Gamea took part in the opening session of the Youth and Small Projects conference held in Suez, under the patronage of the Minister of Youth and Sports, Ashraf Sobhy, and the Governor of Suez, Abdelmegeed Saqr, in the presence of Atef Aboul Nour, the president of the Suez University, and several officials from the MSMEDA and the Ministry of Youth.

An integrated presentation about the MSMEDA’s services was displayed during the conference. It included the agency’s mechanisms of providing financial, technical, and marketing support, as well as the role of the agency in spreading the culture of entrepreneurship and encouraging graduates to be part of it, especially projects that rely on innovative and creative ideas.

Also, the MSMEDA’s strategy for supporting women was presented, in addition to ways of developing their leadership and administrative skills to establish their own small and micro projects, as well as helping them in terms of economic empowerment by offering them the necessary training and funding.

During the conference, an exhibition was held for products of small projects funded by the agency. Additionally, six entrepreneurs received their funding cheques and 10 others were given certificates of appreciation for passing the training required for establishing small projects. 

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