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MSME injects EGP 1.5bn into development projects in Kafr El-Sheikh - Daily News Egypt

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MSME injects EGP 1.5bn into development projects in Kafr El-Sheikh

MSME has injected EGP 932m to fund 20,000 small enterprises, EGP 433m to fund 77,500 micro enterprises, says Gamea

The Micro, Small, and Medium Enterprise Development Agency (MSME) has injected nearly EGP 1.5bn to finance development projects in Kafr El-Sheikh, according to Nevine Gamea, chairperson of the agency.

Gamea explained that EGP 932m was injected to fund 20,000 small enterprises, and EGP 433m to fund 77,5000 micro enterprises. In addition, the infrastructure in the governorate was funded with EGP 141m.

According to Gamea, the projects have provided over 167,000 jobs for the residents of Kafr El-Sheikh, in addition to temporary jobs provided by the infrastructure projects.

Last week, MSME held a conference for the youth of Kafr El-Sheikh under the sponsorship of El-Sayed Nasr, the governor of Kafr El-Sheikh. The conference was attended by about 400 young people from all districts of the governorate.

During the conference, the services offered by the agency to support the sector of small and micro enterprises were presented. The support comes in financial, technical, and marketing forms. These services aim to motivate young people to practise entrepreneurship and establish small and micro enterprises that provide them with jobs and improve their living conditions.

According to Gamea, during the upcoming phase, the agency’s strategies will focus on expanding funding and sustainable development fields, as well as creating jobs. She praised the efforts made by the governor of Kafr El-Sheikh to open fields for development cooperation with the agency as well as implement several projects that train young people and qualify them to establish small projects.

For his part, Nasr stressed that more cooperation will be available with the MSME to serve the sector of small projects and young people who would like to establish these kinds of projects that could eventually limit unemployment rates and increase the governorate’s GDP.

In another context, the MSME, in cooperation with the governor of Damietta, inaugurated last week the second phase of the “Made in Damietta” fair, which is being held from 21 to 30 December 2017.

The fair includes a distinguished collection of furniture from about 65 factories, including 51 that are funded by the MSME.

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