MSMEDA aims to integrate environmental dimensions in SMEs to align with national green economy initiatives

Daily News Egypt
3 Min Read

Basil Rahmi, the CEO of the Micro, Small and Medium Enterprises Development Agency (MSMEDA), underscores the agency’s commitment to integrating environmental considerations into its diverse activities. This initiative aligns with Egypt’s national efforts to safeguard the environment, combat climate change, and transition toward a green economy.

Rahmi highlights the agency’s adoption of sustainable development concepts and its alignment with Egypt’s Vision 2030. The focus is on achieving global sustainable development goals, including environmental conservation and raising awareness of its significance within the medium and small enterprise sectors.

During World Environment Day, observed annually on 5 June, Rahmi emphasized the importance of health and environmental protection. This day, designated by the United Nations, aims to increase environmental awareness and address critical issues such as climate change, global warming, and desertification. It also seeks to empower governments, individuals, and institutions to create a more sustainable world.

MSMEDA has implemented several measures and initiatives to support Egypt’s environmental protection plans. The agency ensures that funded projects are environmentally friendly and refrains from financing those with negative environmental impacts. Projects adhere to standards that protect the environment and mitigate climate change throughout all funding stages—from obtaining licenses and environmental approvals to conducting impact assessments and addressing negative impacts with necessary corrective measures.

The agency’s green economy initiatives include energy efficiency projects and generating energy from renewable sources like solar-powered water pumps. Upgrading primitive charcoal kilns, promoting biogas, and implementing comprehensive waste management systems are also part of their efforts. In addition, the agency offers financing products aligned with the state’s green transition direction. Non-financial services, such as raising awareness about licenses and environmental approvals, support green project owners in marketing their products through modern and electronic means, ensuring sustainability and growth.

The agency’s short film titled “Luxor’s Sun” showcases successful agricultural projects in Luxor funded by the agency through the Agricultural Bank. These projects utilize solar energy for irrigation machinery, replacing gasoline and diesel. This shift increases profitability while preserving the environment.

Rahmi commends the fruitful cooperation with the Agricultural Bank of Egypt, led by Alaa Farouk, in financing agricultural activities in Luxor. Encouraging citizens to opt for green financing—clean, renewable energy—instead of air-polluting diesel is crucial for environmental conservation in one of the world’s most significant tourist destinations.

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