Egypt’s Micro, Small and Medium Enterprise Development Agency (MSMEDA) injected loans worth EGP 2.8 billion to around 111,000 projects during the first half of 2019, MSMEDA’s director Nevine Gamea said.

Such projects created about 175,000 jobs, Gamea added in a statement released by the spokesman of the Egyptian presidency.
MSMEDA offered funding valued at EGP 35 million to infrastructure, community development, and training projects, she noted.

In 2018, MSMEDA contributed 1.1% to Egypt’s gross domestic product (GDP), 1.4% to employment, and 18.2% to the creation of new jobs, Gamea revealed.

-Mubasher