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SMEDA offers EGP 41bn in loans to fund youth projects
The Egyptian Gazette Published in The Egyptian Gazette on 31 - 07 - 2018

ISMAILIA, Egypt, July 31, 2018 (MENA) – The CEO of the Micro, Small, and Medium Enterprise Development Authority (SMEDA) Nevine Gamae said that the total value of the grants and loans that have been offered for funding youth projects amounted to EGP 41, with 30 per cent allocated to micro-sized enterprises.
The SMEDA chief was speaking on Tuesday, at the opening of the fifth employment fair, which was attended by Ismailia Governor Yassin Taher.
Gamae said that SMEDA's strategy was aimed at securing more job opportunities for youth and supporting them in obtaining the loans they need to fund their various projects.
Gamae confirmed that SMEDA attached great importance to micro-sized projects and was aiming to turn this domain from being informal to being formal.
"The authority is ready to offer all the training and technical support needed, to those who are working within the framework of the "Mashrouak" or "Your Project" initiative that was launched nationwide by the Local Development Ministry, and to young people who are willing to obtain funding loans," she said.

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