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SMEDA financed SMEs with EGP 16.7bn during Al-Sisi's first term - Daily News Egypt

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SMEDA financed SMEs with EGP 16.7bn during Al-Sisi’s first term

Projects funded since president assumed office account for 50% of total funding since 1992, Gamea says

The Small and Medium Enterprises Development Authority (SMEDA) funded EGP 16.7bn worth of micro and small projects since President Abdel Fattah Al-Sisi assumed office in 2014 until January 2018, according to SMEDA Head Nevine Gamea.

Gamea explained that this amount is equivalent to about 50% of the total funding offered by the SMEDA since 1992 until January 2018, which amounts to EGP 34bn, amid the great attention given by the president to the small and micro enterprise sector .

She pointed out that projects directed at women and funded within Al-Sisi’s first term were equivalent to about 44% of total funding in that period, hence doubling the funding which was previously below 25%.

She added that the agency is working to implement an ambitious strategy adopted by the state to promote Egyptian women economically, encourage them to lead the business, and exploit their potential and their ability to work freely and to establish projects that provide them and their families with a decent life and economic return that raises their living standards.

She explained that the agency adopts the implementation of many initiatives to serve Egyptian women in cooperation with many donor countries, national institutions, and non-governmental organisations, including a programme to support businesswomen.

She noted that 357 women who own micro and small projects have been trained to develop their managerial, accounting, technological, and marketing capabilities in order to raise the efficiency of their projects and qualify them to own and manage larger projects. Moreover, 561 women have been trained to manage microprojects and on leadership within these communities, in addition to training 1,286 women and girls through Mashrouak project to help them set up small and micro ventures.

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