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  • 03-01-22

    Egypt allocates USD395M to fund SMEs

    (MENAFN) According to the Egyptian minister of trade and industry statement, the country’s Micro, Small and Medium Enterprises Development Agency, or referred to as MSMEDA, allocated 6.2 billion Egyptian pounds (USD395 million) to aid the SMEs in the period from January till November of last year.

    The Middle East News Agency stated quoting Nevine Gamea, about 178,000 schemes were funded by the organization, forming 368,000 fresh work opportunities in that time span.

    The minister mentioned that 36 percent of this backing was designated to young individuals in the age range of 30-40 years.

    MSMEDA in collaboration with other ministries gave free 373 training courses to more than 8,000 young men and women to improve their entrepreneurship abilities

    MENAFN03012022000045013568ID1103477897

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