Arab Finance: The Egyptian Micro, Small and Medium Enterprises Development Agency (MSMEDA) has signed several contracts worth a total of EGP 9.9 million with a number of civil societies in Fayoum to finance micro-sized and community development projects in the governorate, as per a statement on August 15th.
The microfinancing that will be directed toward civil societies amounts to EGP 5.4 million, while the community development projects will secure EGP 4.5 million in financing.
The projects cover the sectors of health, preschool, illiteracy, and employment.
The deals came within the framework of the cabinet’s directives to widen the base of intermediaries and development partners in the field of microfinance, MSMEDA’s CEO Basel Rahmy noted.