Cairo -  Egypt's Local Development Fund has granted micro and small enterprises EGP 160 million worth of loans from July 2014 to March 2022, the Minister of Local Development, Mahmoud Shaarawi, announced.

The Fund has supported 24,349 small and micro enterprises with total investments of EGP 192 million across various fields, according to a statement on Thursday.

Reflecting the Fund's objective to economically empower women in Egypt's villages, 14,797 women have benefitted from 64.9% of the total financed projects.

Minya and Sohag were among the governorates that benefited most from the loans with 4,496 projects worth EGP 27 million and 2,521 projects worth EGP 17.8 million, respectively.

Shaarawi remarked that the Local Development Fund seeks to finance micro and small enterprises, achieve economic development goals, improve living standards, and eliminate unemployment.

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