Arab Finance: The Micro, Small and Medium Enterprises Development Agency (MSMEDA) has signed a memorandum of understanding (MoU) with the Commercial Bank of Egypt (CIB) to provide technical and financial support for micro, medium and small enterprises (MSMEs), as per a statement.

CEO of MSMEDA Basil Rahmy emphasized that CIB’s extensive customer base across Egypt enables entrepreneurs to access the agency's one-stop shop units in various governorates.

These units will streamline procedures for businesses to regularize their status, making them eligible for financing through the bank.

Rahmy outlined additional benefits of the partnership, including directing MSMEDA-funded small enterprises to CIB for additional financing beyond MSMEDA’s limits.

MSMEDA will also provide CIB clients with access to feasibility studies, assistance in marketing their products, participation in government tenders, and involvement in exhibitions and electronic marketing platforms.

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