MSMEDA pumps EGP 36bn to finance 1.4 million small, micro projects within 7 years

Hossam Mounir
3 Min Read

The Egyptian Cabinet has revealed that the Micro, Small, and Medium Enterprise Development Agency has funded more than 1.4 million small and micro projects during the past seven years.

This came in a report which monitored the efforts of the Egyptian state in providing the necessary funding for small and micro projects.

During this period, MSMEDA pumped about EGP 36bn whether in direct loans or finance for labour-intensive projects.

In the same context, MSMEDA revealed that it provided a variety of marketing services free of charge to owners of small projects within the activities of the Turathna Exhibition, which was organized by the Agency under the auspices of President Abdel Fattah Al-Sisi from 9 to 15 October.

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The agency provides these services through a specialized business development unit that includes a number of experts and specialists to help project owners, who are participants or visitors to the exhibition, in marketing their products professionally.

Raafat Abbas, head of the central sector for non-financial services at the agency, said that all services provided by the Small Enterprise Development Unit at MSMEDA are free and aim to help business owners to market their products in modern and innovative ways, including providing appropriate trademarks for their projects, and consulting and promoting services, in addition to teaching them the basics of e-marketing. The unit also introduces MSMEDA’s financial and non-financial activities and incentives provided by the SMEs law.

Abbas confirmed that the services provided by this unit come within the framework of MSMEDA’s expansion in supporting project owners technically, as plans are currently being made to reach project owners in their locations in all governorates of the Republic, through a mobile unit for the development of small projects affiliated to the agency, which provides project owners with specialized services that help them marketing their products professionally.

The Agency is cooperating with a number of donors to provide these services during the current edition of Turathna Exhibition, namely the United Nations Development Program, the International Labor Organization, the United Nations Industrial Development Organization, and the Canadian Embassy in Cairo. 

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