Sharm El-Sheikh – CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA) Basil Rahmi stated that the agency is keen on increasing cooperation with various international and financing organizations and bodies to serve the development goals in Egypt. It aims to create an environment that encourages MSMEs.
This came during his participation in the annual meetings of the African Development Bank Group, held in Sharm El-Sheikh from 22 to 26 May.
“We are exchanging experiences with all our counterparts in the countries of the continent to support sustainable development efforts, especially with regard to integrating the environmental dimension in the small enterprises sector to limit climate changes and generate jobs,” Rahmi said.
Rahmi held a meeting with Malin Bloomberg, Deputy Director for North Africa, and Abdel Rahman Diaw, Director of the African Development Bank in Egypt, where he confirmed that the African Development Bank is one of the most important donors supporting the activities of the agency. With its efforts, it seeks to develop mechanisms for financing small enterprises, and expand technical services that would ensure the continuity and success of these enterprises.
The meeting also discussed increasing cooperation between the agency and the African Development Bank to develop entrepreneurship and strengthen the digital infrastructure to support MSMEs in Egypt.
Rahmi concluded his participation in the annual meetings by visiting the pavilion of the “Our Heritage” exhibition for handicrafts and heritage on the sidelines of the conference. It reflects the agency’s interest in owners of MSMEs, artists, and workers in the field of handicrafts and heritage. The pavilion includes many environmentally friendly heritage products.
The African Development Bank Group Annual Meetings are a framework for the Bank Group Governors to share their experiences in catalysing private financing domestically and internationally, harnessing natural capital to bridge the climate finance gap and promoting the transition towards green growth in Africa. The theme of the 2023 Annual Meetings is “Mobilizing Private Sector Finance for Climate and Green Growth in Africa”. It presents an opportunity to discuss Africa’s challenges in attracting private sector financing in environmentally friendly investments and the practical policies that governments can deploy to expand the attraction of these investments.