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MSMEDA pumped EGP 89.2m to finance 3,836 projects in Qena in 5 months - Daily News Egypt

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MSMEDA pumped EGP 89.2m to finance 3,836 projects in Qena in 5 months

Governorate seeks to cooperate with agency to help young graduates implement projects, become entrepreneurs, said Al-Hagan

The micro, small, and medium enterprises development agency (MSMEDA) funded 3,836 projects in Qena governorate in five months, at a cost of EGP 89.212m.


Qena Governor, Abdul Hamid Al-Hagan, said that this funding comes within the framework of the governorate’s efforts, in cooperation with the agency, to help young graduates implement their own projects and become entrepreneurs.


He explained that the agency financed 625 projects in the governorate during May, at a cost of about EGP 12.064m.


Al-Hagan pointed out that the projects that were funded during May include 18 small projects with funding up to EGP 4.520m, and 607 micro projects that cost up to EGP 7.544m.


Moreover, between January and April 2019, MSMEDA injected 77.148m to finance 3,211 projects, including 198 small projects that denominated EGP 37.936m and 3,013 micro projects at a cost of EGP 39.212m.


“The governorate gives special priority to small and micro projects,” said Al-Hagan. “They play a great role in giving strong motivation to the development wheel in Qena, which increases production and curbs unemployment by creating jobs for graduates.”

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