Egypt’s Local Development Fund has financed 464 small and micro projects until the end of March with investments worth EGP 7.7 million, Minister of Local Development Hisham Amna announced April 10th.

This brings the total projects that have been backed by the fund since the beginning of the current fiscal year (FY) 2022/2023 to 1,722 projects with investments totaling EGP 29.4 million, the minister added.

Aswan topped all governorates in terms of the number of projects backed by the fund, as 395 projects were financed with EGP 6.4 million, followed by Minya governorate with 392 projects with investments of EGP 6.1 million, then Menoufia with 143 projects and investments amounting to EGP 3.3 million, Amna indicated.

The minister added that the fund prepares feasibility studies for projects for free and immediately approves projects that benefit from locally available raw materials.

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