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· President Abdel Fatah al-Sisi endorsed an agreement between Egypt and OPEC Fund for International Development (OFID) to help implement the third phase of the micro, small and medium enterprises development
· This project will have an allocation of US$95 million
President Abdel Fatah al-Sisi endorsed an agreement between Egypt and OPEC Fund for International Development (OFID) to help implement the third phase of the micro, small and medium enterprises development. This project will have an allocation of US$95 million.
The project mainly targets youth and women and it will be implemented through intermediaries like banks, NGOs, financial institutions as well as directly. The president issued a decree in February 2020 approving a loan worth US$14 million provided by OFID.
The proceeds of that funding were meant to establish grain storage facilities in Port Said. Earlier in 2018, OFID provided grants to the Regional Center for Egypt’s Renewable Energy and Energy Efficiency (RCREEE) to help the country achieve energy security.
