Arab Finance: The Micro, Small and Medium Enterprises Development Agency (MSMEDA) has sealed a new microfinance contract worth EGP 100 million with Cash for Microfinance, a statement revealed.

The deal aims to finance microenterprises across the country via Cash for Microfinance’s offices.

The funding is set to be directed toward all the targeted groups nationwide, especially the youth and women, MSMEDA’s CEO Bassel Rahmy highlighted.

This will contribute to the development of existing projects and carrying out new ones in commercial, service, and agricultural sectors with a focus on productive and industrial projects, Rahmy added.

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