MSMEDA pens EGP 181M microfinance contracts with Alexandria Business Association
Updated 6/24/2025 8:14:00 AM
Arab Finance: The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has signed two new contracts worth a combined EGP 181 million with the Alexandria Business Association (ABA) to support microfinance initiatives across Egypt, as per a statement.
The signing, attended by MSMEDA CEO Basil Rahmy and ABA Chairman Mohamed Hano, marks the launch of two projects: an EGP 100 million microfinance initiative and an EGP 81 million agricultural investment and livelihood support program.
The agreements are part of MSMEDA’s broader plan to expand its microfinance portfolio by working with a growing number of intermediary and development partners.
These funds will help finance around 3,600 projects across the commercial, agricultural, service, livestock, and industrial sectors, with financing up to EGP 200,000 per project.
Rahmy emphasized that the agency remains committed to expanding partnerships with development entities to support the microenterprise sector, a key pillar of the national economy.
He noted that the new contracts target sectors with high employment potential, including handicrafts and agricultural projects, both of which meet local market needs and hold promise for global market access.
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