MSMEDA injects funding in 1.4mln projects in 7 years

The agency provides these services through a specialized business development unit

  
A man counts U.S dollars at a money exchange office in central Cairo, Egypt, March 7, 2017. Image used for illustrative purpose.

A man counts U.S dollars at a money exchange office in central Cairo, Egypt, March 7, 2017. Image used for illustrative purpose.

REUTERS/Mohamed Abd El Ghany

ArabFinance: The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has injected up to $36 billion into more than 1.4 million small and micro projects during the past seven years, according to a recent report by MSMEDA.

The funding is part of the agency’s efforts to provide direct loans or finance the necessary funding for small and micro-projects.

MSMEDA revealed that it provided a variety of marketing services free of charge to owners of small projects within the activities of the Turathna Exhibition, which was organized by the Agency under the auspices of President Abdel Fattah Al-Sisi during October 9-15.

The agency provides these services through a specialized business development unit that includes a number of experts and specialists to help project owners, who are participants or visitors to the exhibition, in marketing their products professionally.

All services provided by the Small Enterprise Development Unit at MSMEDA are free and aim to help business owners to market their products in modern and innovative ways, including providing appropriate trademarks for their projects, and consulting and promoting services, in addition to teaching them the basics of e-marketing.

The unit also introduces MSMEDA’s financial and non-financial activities and incentives provided by the SMEs law.

These services are part of MSMEDA’s framework of expansion in supporting project owners technically, as plans are currently being made to reach project owners in their locations in all governorates, through a mobile unit for the development of small projects affiliated to the agency, which provides project owners with specialized services that help them marketing their products professionally.

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