MSMEDA pumps EGP 7.1bn into various development sectors in 2022

Hossam Mounir
1 Min Read

The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has revealed that the authority pumped EGP 7.1bn into various development sectors, including EGP 6.8bn to finance small and micro projects and EGP 318m to infrastructure and community development.

The agency issued Tuesday a report explaining all the development activities it implemented during 2022, in implementation of the directives of the political leadership to pay attention to youth projects and provide decent and continuous job opportunities for citizens, through the medium, small and micro enterprises sector.

According to the agency, the youth of Upper Egypt governorates obtained more than 50% of the total financing directed to the small and micro-enterprise sector, taking into account the state’s goals in this regard.

With regard to activating the Enterprise Development Law 152/2020, the agency indicated that about 8,000 permanent and temporary licenses have been issued to regularize the conditions of projects operating in the informal sector, and more than 30,000 classification certificates have been issued and nearly 30,000 merit certificates for small projects to benefit from facilities provided by the law.

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