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Egypt offers LE1.2 b to support SMEs
The Egyptian Gazette Published in The Egyptian Gazette on 12 - 03 - 2018

ALEXANDRIA, March 12, 2018 - The Micro, Small and Medium Enterprise Development Authority ,from 1992 to 2017, managed to finance approximately 48,000 SMEs with total funds of LE1.2 billion, creating more than 100,000 job opportunities, the Authority CEO Niveen Gamea announced on Monday during her speech at Alexandria Youth Forum.
In 2017, the authority injected around LE195 million to finance about 8,000 SMEs in Alexandria, offering more than 13,000 job opportunities besides offering grants worth around LE four million to finance social development projects, Gamea said.
Gamea, meanwhile, pointed out that the authority is keen on eliminating all difficulties and hurdles faced by young people while implementing their projects, adding that the authority's strategy in the upcoming period would focus on expanding diversifying sources of finance besides offering financial and non-financial facilities.

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