Egypt's PM, JICA chief discuss boosting investment, education ties at TICAD 9    Egyptian pound wavers vs. USD in early trade    SCZONE showcases investment opportunities to eight Japanese companies    Egypt urges Israel to accept Gaza deal amid intensifying fighting    Egypt, ADIB explore strategic partnership in digital healthcare, investment    Egypt's PM meets Tokyo governor, witnesses signing of education agreements    Egypt welcomes international efforts for peace in Ukraine    Al-Sisi, Macron reaffirm strategic partnership, coordinate on Gaza crisis    Egypt's Sisi, France's Macron discuss Gaza ceasefire efforts in phone call    Contact Reports Strong 1H-2025 on Financing, Insurance Gains    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egyptian, Ugandan Presidents open business forum to boost trade    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Egypt's Sisi: Egypt is gateway for aid to Gaza, not displacement    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



'Mashrou'ak' contributed EGP 2.218bn to implement 12,400 projects since July 2021 until now
The total number of projects implemented by the programme amounted to 190,000, with loans worth EGP 22.6bn
Published in Daily News Egypt on 07 - 04 - 2022

Minister of Local Development Mahmoud Shaarawy said that 'Mashrou'ak' ('Your Project') — a national project for community, human, and local development — has contributed with loans amounting to EGP 2.218bn since July of FY 2021/22 to implement 12,400 projects.
These projects have generated about 123 jobs.
The minister said in a statement on Wednesday that the total number of projects implemented by Mashrou'ak so far has reached 190,000, with loans worth EGP 22.6bn, providing more than 1.4m jobs.
He explained that Minya got the lion's share in the total number of projects implemented since the start of Mashrou'ak until now, with 22,000 projects and loans of EGP 2.6bn. He added that these projects provided 137,000 jobs.
Next on the list is Sohag, with 21,000 projects and loans of EGP 2.6bn, providing 124,000 jobs.
Beheira came third with 19,000 projects and loans of EGP 1.6bn, providing 93,000 jobs.
Daqahleya came next with 17,000 projects and loans of EGP 1.8bn, providing 93,000 jobs.
Finally, Sharqeya had 16,000 projects implemented with loans of EGP 2.4bn, providing 121,000 jobs.
Shaarawy stressed that through Mashrou'ak, the ministry is working to implement several interventions in the targeted districts during the first phase of the Decent Life Presidential Initiative, which is aiming to generate jobs for the citizens of the targeted villages.
Moreover, Mashrou'ak supports promising productive blocs in the governorates of Sohag, Qena, Assiut, and Minya through the Local Development Programme in Upper Egypt. It will also facilitate the obtainment of licenses to establish craft complexes and shops, promote job opportunities through construction projects, expand the implementation of the 'Your Work in Your Village Initiative', and develop rural markets.
He also highlighted the ministry's keenness on supporting micro, small, and medium enterprises (MSMEs) through Mashrou'ak due to its pivotal role in developing and advancing production in various fields and implementing the national strategy and Egypt's 2030 Vision.
Egypt's 2030 Vision aims to enhance the important role of the MSME sector and entrepreneurship in achieving sustainable development in the country.
Shaarawy added that Mashrou'ak's role is not limited to the funding of projects. It also contributes to eliminating obstacles to implementation through the use of one-stop-shops to receive and respond to requests. It also reduces the time needed for application procedures and the documents required for submission and simplifies the decision-making process in banks to issue a decision to approve financing.
He explained that all governorates are covered with 260 headquarters of Mashrou'ak — including all administrative centres in the governorates and the lending methodology of the six national banks participating in Mashrou'ak — and are personally supervised by governors to eliminate any obstacles.


Clic here to read the story from its source.