(3 Minutes Read)
Mashroak has financed over 219,000 projects with loans totaling EGP 29.8bn since its inception in 2015.
Egypt’s Minister of Local Development, Manal Awad, announced that the National Project for Community, Human, and Local Development, known as “Mashroak,” has financed over 219,000 projects with loans totaling EGP 29.8bn since its inception in 2015.
These projects have created more than 1.45 million job opportunities across the country’s governorates. Awad emphasized the vital role “Mashroak” plays in bolstering the small and medium enterprise (SME) sector, which is a cornerstone of employment generation and a key strategy for reducing unemployment nationwide.
She reaffirmed the ministry’s commitment to extending the project’s benefits to as many citizens as possible, particularly those seeking financial support to establish sustainable and impactful businesses.
To maximize accessibility, significant efforts have been made to simplify loan approval processes and minimize bureaucratic hurdles. These streamlined procedures enable beneficiaries to quickly secure funding and implement projects, especially those focused on production and industry.
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The minister also highlighted achievements in various governorates: Sohag led the way with approximately 24,000 projects, supported by investments of EGP 3.7bn, creating around 144,000 jobs.
