Minister of Trade and Industry and chairperson of the Micro, Small, and Medium Enterprises Development Agency (MSMEDA) Nevine Gamea said MSMEDA will support all its funded projects until the end of the coronavirus crisis and its negative economic effects. She stressed that the repayment period of any troubled project will be extended.
She explained that the MSMEDA is in the process of issuing credit facilities to these affected projects until the crisis ends and these projects regain their stability, stressing that the agency will stand behind owners of small and micro projects and will participate in solving all problems and obstacles faced during these troubling times.
For his part, Hany Emad, head of the central sector for financing small projects in the MSMEDA, announced that the agency is fully prepared to provide additional funds and facilities for projects that need funding to deal with the effects of the crisis.
He stressed that the branches of the agency will receive all owners of harmed projects, and each case will be studied separately to better tailor the support they might require until the market stabilises and they can stand on their own.