MSMEDA finances 80,000 projects with EGP 2.1B to in 6 months
Updated 8/28/2023 8:58:00 AM
Arab Finance: The Egyptian Micro, Small and Medium Enterprises Development Agency (MSMEDA) has provided EGP 2.1 billion in financing to around 80,000 projects during the first six months of 2023, offering 117,000 job opportunities, according to a statement on August 27th.
The agency also provided several non-financial services, including registering around 1,600 projects in importer registers at the government authorities for total tenders of EGP 80 million.
This is in addition to connecting 120 projects to market chains, with sales of EGP 2 million, along with training 5,000 entrepreneurs.
Moreover, MSMEDA was in charge of coordinating 124 business-to-business (B2B) deals for EGP 10 million, in addition to assisting entrepreneurs in issuing several documents.
MSMEDA also offered EGP 6.8 billion in financing to around 222,000 projects in 2022, providing 370,000 job opportunities, along with registering around 2,900 projects in importer registers at governmental authorities, with total tenders of EGP 178 million.
It also connected 260 projects to market chains with sales of EGP 6 million last year, trained 8,200 entrepreneurs, and coordinated the implementation of 240 B2B deals for EGP 29 million.
Furthermore, it provided EGP 320 million in financing for community development projects, creating nearly 20,000 job opportunities and employing 2,474.
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