Bassel Rahmy, CEO of MSMEDA, said the funding aims to help entrepreneurs launch new ventures or expand existing ones, with a strategic focus on industrial production, entrepreneurship, and information technology. The initiative is part of a broader state effort to strengthen the national economy, promote local products, and reduce reliance on imports.
Rahmy highlighted the long-standing partnership with Banque
du Caire, noting that total financing between the two entities has exceeded 5 billion
EGP. This includes small projects with 28 contracts worth 507 million EGP, and
micro-projects with 20 contracts totaling 4.5 billion EGP.
The new agreement leverages Banque du Caire’s extensive
branch network to reach business owners in all governorates. "The focus
will be on projects that provide decent and sustainable jobs for youth,"
Rahmy added.
Banque du Caire reaffirmed its commitment to the sector, stating that the agreement provides sustainable funding sources to help SMEs compete and grow. The bank noted that supporting this vital sector is a top priority, aligning with national targets for financial inclusion and sustainable development.