Basil Rahmi, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), received Abdourahmane Diaw, Country Manager of the African Development Bank (AfDB) in Egypt, to discuss strengthening ways of future cooperation between the agency and the bank, in the presence of Jihan Al-Sukkari, chief social economist at the Bank office in Egypt, and a number of development projects officials.

Rahmi stressed during the meeting that AfDB is one of the most important donors supporting the activities of the agency, with the aim of providing various aspects of technical and financial support to the small and micro enterprise sector. He noted that the previous cooperation between the agency and the bank witnessed great success, through the implementation of many projects that contributed to sustainable job opportunities and the necessary assistance and support to thousands of entrepreneurs, which enhanced their economic level.

He added that the projects implemented by the agency in cooperation with the Bank aimed at developing natural productive communities in rural areas, which led to a better use of the natural resources available in these areas and had an active role in the economic empowerment of small farmers.

Rahmi indicated that the meeting also discussed ways of future cooperation between the agency and the Bank to support and develop entrepreneurship and strengthen the digital infrastructure to support MSMEs. He stressed the agency’s keenness on increasing cooperation with various international and financing institutions and bodies to serve development goals.

For his part, Diaw praised MSMEDA, stressing that the coming period will witness a boom in cooperation between the two sides, as the agency is considered one of the main partners of the bank in Egypt to contribute to achieving sustainable development. It is also considered one of the institutions that have proven ability to implement projects and interventions that have achieved a positive return and succeeded in improving the living standards of the various target groups.

Diaw invited the CEO of MSMEDA to attend the 58th annual meetings of the Bank Group under the title “Mobilizing Private Sector Financing for Climate and Green Growth in Africa,” scheduled to be held in Sharm El-Sheikh from 22 to 26 May 2023.

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