
Arab Finance: Basil Rahmi, CEO of the agency, confirmed Development of small and medium enterprises The agency was keen to implement the directives of Dr. Mostafa Madbouly, Prime Minister and Chairman of the agency’s board of directors, to contribute to the implementation of the state’s plans to achieve comprehensive economic development by expanding the availability of microfinance and activating ways of cooperation with banks and major financial institutions in Egypt, in order to empower youth and women in a way that Especially through establishing micro-enterprises or developing already existing ones, thus providing more stable job opportunities on the one hand, and enhancing the productivity of projects on the other hand.
This came on the occasion of the signing of a contract between the Enterprise Development Agency and the Bank of Egypt to finance micro-projects, with a total financing from the agency amounting to 300 million pounds, “Empowerment Project for Microfinance (2).”
Rahmi explained that the signing of this contract comes within the framework of activating the work plan of the Enterprise Development Authority for the year 2025 by expanding the pumping of new financing into the microenterprise sector due to its ability to provide intensive job opportunities for citizens that contribute to improving their economic levels, in addition to encouraging informal projects to join the formal sector, which allows them Benefiting from the facilities of the Enterprise Development Law 152/2020.
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