Egypt’s Mashrou’ak program funds 211,000 projects worth $590 million

Hisham Amna, Egypt’s minister of Local Development, announced that his ministry is offering full support to finance micro, small, and medium enterprises (MSMEs) in the governorates. He also highlighted the launch of initiatives to fund small investors through the Local Development Fund and the “Mashrou’ak” program.

Amna provided details on the funding efforts, stating that 211,000 projects were financed through the program, amounting to an estimated cost of EGP28.3 billion ($590 million) . Additionally, the Local Development Fund funded around 30,000 projects with EGP229 million ($4.77 million), including projects focused on agricultural industrialization in villages.

These statements were made during the Minister of Local Development’s participation in the Senate’s plenary session, chaired by Abdel-Wahab Abdel-Razek. The session was attended by Alaa Fouad, minister of Parliamentary Affairs, representatives and members of the Council, as well as various leaders within the Ministry of Local Development.