MSMEDA pumped EGP 40bn to finance 1.6m SMEs

Nevine Gamea — Minister of Trade and Industry and CEO of the Micro, Small, and Medium Enterprise Development Agency (MSMEDA) — stressed that the past eight years have witnessed an unprecedented boom in financing and services provided to the small enterprise sector.

She indicated that President Abdel-Fattah El-Sisi has given the sector unparalleled attention since assuming his post through continuous directives to various state agencies and institutions for the benefit of small and micro enterprises (SMEs).

Gamea also explained that the MSMEDA works within the framework of an integrated system in cooperation with various ministries, authorities, governorates, and relevant authorities to create a stimulating legislative climate and an environment conducive to young people to invest and establish projects.

It also seeks to empower women economically and socially and raise the quality of life in lower-income areas, as well as create and provide decent and sustainable job opportunities for hundreds of thousands of young people.