MSMEDA provides $1bln financing to 2mln small, micro-enterprises in almost 10 years

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This funding was directed toward nearly 2 million enterprises, creating around 3.1 million job opportunities, Rahmy added

Staff Writer, Arab Finance

June 28, 2024

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One hundred US dollar bills bundles. Getty Images Image used for illustrative purpose.

The Egyptian Micro, Small and Medium Enterprises Development Agency (MSMEDA) has provided total financing of EGP 51.2 billion to small and micro-sized enterprises from July 2014 until end-April 2024, CEO Bassel Rahmy announced.

This funding was directed toward nearly 2 million enterprises, creating around 3.1 million job opportunities, Rahmy added.

In addition, MSMEDA has financed 119,900 small and micro-sized projects with roughly EGP 3.2 billion under the Haya Karima initiative, he said.

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