The Micro, Small and Medium Enterprise Development Agency (MSMEDA) has signed a financing agreement worth EGP 500m with Suez Canal Bank to expand funding for industrial and productive projects and support export activities.

The agreement forms part of joint efforts to enhance the export capacity of micro, small and medium enterprises (MSMEs), in line with the state’s strategy to achieve sustainable economic development and increase Egyptian exports.

The agreement was signed at Suez Canal Bank’s headquarters by Basil Rahmy, Chief Executive Officer of MSMEDA, and Akef El Maghraby, Chief Executive Officer and Managing Director of Suez Canal Bank. The signing was attended on behalf of MSMEDA by Mohamed Medhat, Deputy CEO, and Mohamed Osama Bakry, Head of the MSME Sector, while Suez Canal Bank was represented by Shehab Zidan, Deputy CEO and Managing Director, and Omar Nasser, Head of the MSME Sector.

On the sidelines of the signing, Rahmy stressed MSMEDA’s commitment to strengthening cooperation with leading financial and banking institutions to expand access to finance for project owners, enabling them to establish new ventures or expand existing ones. He noted that this would help boost local production and support comprehensive economic development.

Rahmy explained that the agreement falls under the Ministry of Finance’s export support initiative, which aims to encourage MSMEs to expand their export activities. Through close coordination between the ministry and MSMEDA, various forms of support are provided to this sector—particularly industrial and productive projects—to help them access foreign markets. He added that special attention is being given to border governorates, Upper Egypt, and women’s economic empowerment, in line with the state’s priorities.

He added that MSMEDA operates in accordance with strategic plans and initiatives aimed at improving the business environment, creating favourable conditions for entrepreneurship, and encouraging labour market participation. These efforts focus on supporting exports, increasing local content in industrial and productive projects, enhancing competitiveness, and expanding access to target markets.

Rahmy also praised the ongoing cooperation between MSMEDA and Suez Canal Bank in supporting MSMEs, noting that the new funding will primarily target small and medium-sized industrial and productive projects, particularly those engaged in exporting.

He explained that the financing will be available to clients across all governorates and will cover machinery, equipment, production lines, raw materials, training programmes, and the issuance of quality and compliance certificates. Under the agreement, small enterprises can obtain financing of up to EGP 30m, while medium-sized enterprises can receive up to EGP 60m.

For his part, El Maghraby said the cooperation represents an important step in Suez Canal Bank’s efforts to support the MSME sector. He noted that the agreement aligns with the Ministry of Finance’s export support initiative and reflects strong coordination between the ministry and MSMEDA to provide comprehensive support to MSMEs, particularly industrial and productive enterprises, enabling them to export and compete in international markets.

He added that the bank places special emphasis on supporting projects in border governorates and Upper Egypt, as well as promoting women’s economic empowerment, in line with the state’s vision for balanced and inclusive development. He highlighted MSMEs’ role as a key driver of economic growth and export expansion.

El Maghraby also stressed that the bank continues to expand its digital solutions through its Click digital financing platform, which broadens access for MSMEs and simplifies application and financing procedures. He added that the bank remains committed to offering innovative financing solutions and integrated banking services to support entrepreneurs and project owners, contributing to Egypt’s sustainable development goals, business expansion, and job creation.

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