The Micro, Small and Medium Enterprise Development Agency (MSMEDA) has signed two new microfinance contracts with the Alexandria Businessmen Association, totalling EGP 181m, to support thousands of microenterprises across Egypt.
The agreements were signed by Nevine Badr El-Din, Head of the Central Sector for Microfinance at MSMEDA, and Sherif Shoman, Executive Director of the Small Enterprise and Handicraft Development Project at the Association. The signing ceremony was attended by MSMEDA CEO Bassel Rahmy, Association Chairperson Mohamed Henou, and MSMEDA Deputy CEO Mohamed Medhat.
The two contracts include a microfinance project valued at EGP 100m and an agricultural investment and livelihoods support project worth EGP 81m.
Speaking at the event, Rahmy reiterated MSMEDA’s commitment to expanding cooperation with development partners nationwide to bolster the microenterprise sector, a key driver of job creation and local market development. He stressed that enhanced financing plays a vital role in supporting the state’s strategy to empower youth and women, foster self-employment, and reduce unemployment—particularly in underserved and rural areas.
Rahmy noted that the latest funding agreements prioritise sectors with high growth potential, such as agriculture and handicrafts, which meet domestic demand and offer significant export opportunities. The initiative also aims to help microenterprises become more competitive and sustainable, thereby improving the livelihoods of targeted social groups.
Mohamed Henou, Chairperson of the Alexandria Businessmen Association, said the new agreements mark the continuation of a long-standing partnership with MSMEDA. He pointed out that two previous contracts had already been signed, and these represent the third and fourth agreements between the two parties. Henou highlighted the Association’s strong support for small and micro enterprises as a foundation for sustainable development, noting that it currently provides around 70,000 loans monthly, valued at nearly EGP 1bn.
Nevine Badr El-Din confirmed that the new contracts fall within MSMEDA’s strategic plan to expand its network of intermediary institutions and development partners, thereby facilitating faster and broader outreach to target groups. She emphasised that the funding will support the establishment, expansion, and sustainability of microenterprises, with financing available for working capital, machinery, and equipment.
She added that the agreements are expected to finance approximately 3,600 projects across diverse sectors—including commercial, agricultural, service, livestock, and industrial activities—with loans reaching up to EGP 200,000 per project.
The projects will be re-lent through non-profit associations to young graduates and experienced entrepreneurs seeking to expand existing businesses or launch new ventures, contributing to broader economic inclusion and sustainable local development.
