Monday 19 November 2018

Egyptian agency provides finance to MSMEs

CAIRO, October 22, 2017

Egypt’s Micro, Small, and Medium Enterprises Development Agency (MSMEs Development Agency) has provided finance to over 11,000 micro and small enterprises in Fayoum in different industrial, agricultural, and service fields since the beginning of the year until the end of September, said a report.

The value of these finances amounts to EGP178 million ($10.08 million), according to head of the agency Niven Gamea, added the Daily News Egypt report.

Gamea said that the agency has also provided grants for 25 projects in community and human development and public works worth EGP31 million ($170,020), it said.

This boosts the total funds offered by the agency in Fayoum governorate in the first nine months to EGP 20.5 million ($1.16 million), which provided thousands of permanent and temporary jobs for the people of the governorate.

Gamea stressed that the agency pays great attention to small and micro enterprises operating in traditional and handicraft industries such as ceramics and pottery, because these distinctive art industries have a promising market abroad, added the report.

Tags: | Egypt | finance |

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