(4 minutes read)
· A delegation from the European Union Commission and the French Development Agency (FDA) inspected projects being implemented under the urban development program by the Egyptian Micro, Small and Medium Enterprises Development Agency (MSMEDA)
· Micro, small and medium-sized enterprises (MSME) contribute to 99% of private enterprises according to recent research
A delegation from the European Union Commission and the French Development Agency (FDA) inspected projects being implemented under the urban development program by the Egyptian Micro, Small and Medium Enterprises Development Agency (MSMEDA). The delegation inspected a water storage tank project of Ard el Lewa district in Giza whose cost stood at about LE 24 million.
The tank – whose capacity will be 6,000 cubic meters – will secure potable water for about 35,000 households. The project under MSMEDA has been under implementation since 2017, entailing a cost of Euro 15 million grant from the FDA. Plans are afoot to implement several other sewage projects in Ard el Lewa under the program at a total of about EGP 86 million.
Micro, small and medium-sized enterprises (MSME) contribute to 99% of private enterprises according to recent research. Several projects are underway with the help of multilateral organizations like the World Bank, IFC and UNDP etc to promote the MSME sector in the country. These are projects focused on youth and women
MSMEs directly empower women and youth. Through the UNDP-MSMEDA partnership, EGP 11.2 Billion was disbursed as loans for financing MSMEs. It has benefited 526,858 micro and small-sized enterprises and created around 802,434 job opportunities.
