Arab Finance: The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) has cooperated with the French Development Agency (AFD) to implement a credit line worth €50 million for a program aimed at funding women-run small projects, MSMEDA’s CEO Basil Rahmy stated.

Rahmy highlighted that 20,256 projects were financed under this program, in addition to providing 47,616 job opportunities.

This came during a meeting between Rahmy and the French Ambassador to Egypt Éric Chevallier and other officials.

During the meeting, Rahmy revealed that MSMEDA is keen to boost cooperation with French developmental agencies to execute further development programs and projects in Egypt.

He also expressed his interest in fostering cooperation with the AFD in the coming period on multiple fronts.

These include the participation in Our Heritage exhibition, which is set to take place at the end of 2024, updating Egypt’s national strategy for handicrafts, supporting the digital transformation initiatives, and launching a national platform for micro, small, and medium enterprises (MSMEs).

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