The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) signed a financing agreement with Banque du Caire for a total amount of EGP 400 million, according to a press release.

The partnership aligns with the government’s objectives to promote financial inclusion while supporting the small and medium enterprises (SMEs) across various governorates of Egypt.

Bassel Rahmy, the CEO of MSMEDA, signed the contract with Bahaa El Shafie, Deputy CEO at Banque du Caire.

Both entities have signed agreements exceeding EGP 5 billion, including 28 deals for financing small projects at a value of EGP 507 million, in addition to 20 microfinance contracts totaling EGP 4.5 billion, Rahmy noted.

He added that the new contract will contribute to securing the necessary financing for various types of projects throughout Egypt, leveraging the bank's extensive branch network.

The financing will focus on industrial, productive, entrepreneurial, and information tech projects, in line with the state's strategy to empower local production and create sustainable job opportunities for youth.

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