Egypt - The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) and Reefy Micro Finance Enterprise Services have signed a new financing contract worth EGP 150m to support women’s micro-projects nationwide.
The contract was signed by Nevine Badr El-Din, Head of MSMEDA’s Central Microfinance Sector, and Ahmed Labib, Managing Director and CEO of Reefy, in the presence of Basil Rahmi, CEO of MSMEDA.
Rahmi said that the contract would finance 6,000 women and girls who want to establish, develop, or expand their micro-projects, which would increase their production and income and improve their economic levels.
He added that the agency aimed to support women and provide them with more permanent and temporary job opportunities, especially in the neediest and border areas. He said that the agency also provided them with various aspects of technical support to help them acquire the basic skills for self-employment and exploit the natural resources in their governorates.
He pointed out that the agency was expanding its cooperation with different development partners and intermediary bodies, to reach the largest possible number of women in these areas, and to facilitate their access to suitable financial services for their projects. He said that this would increase their contribution to meeting the needs of their local communities.
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