MSMEDA grants EGP 6.8B to micro, small enterprises in 2022
Updated 1/24/2023 8:30:00 AM
Arab Finance: The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) has granted a total of EGP 6.8 billion worth of financing to micro and small enterprises in 2022, the agency’s CEO Basil Rahmi said in a meeting with Prime Minister Mostafa Madbouly on January 23rd.
The financing contributed to the establishment and expansion of about 222,000 projects, as well as offering over 367,000 jobs, Rahmi added.
MSMEDA also financed infrastructure, community development, and training projects with about EGP 318 million, he noted.
Regarding the non-financial services provided by the agency, Rahmi indicated that 5,573 final licenses for new projects were issued last year via the single-window system, while 7,390 temporary licenses were issued for new projects.
The CEO of MSMEDA also revealed that EGP 400 million worth of financing was made to convert more than 51,000 cars to run on natural gas.
The agency also offered up to EGP 2.1 billion in financing within the framework of the presidential initiative ‘Hayah Karima’ in 2022.
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