Eissa in U.S. to Discuss Upgrading Small Projects

The Egyptian government is keen on developing small and medium-sized projects, which Industry Minister Mahmoud Eissa sees as the backbone of the Egyptian economy.

Small and medium-sized enterprises secure thousands of jobs for youth, Eissa said in a ministry statement on Friday 20/01/2012.

Cairo can very well use Washington's help in developing this sector through technical assistance programs or direct financing, said the minister, currently on a visit to the US.

Minister Eissa made it clear that his talks with Karen Mills, the administrator of the Small Business Administration (SBA), took up means by which Washington can help in this regard.

The US has a comprehensive system to bankroll small projects in coordination with the banking sector, Mills said, noting that lending banks receive nearly USD 300 billion annually.

She stressed the importance of connecting small enterprises with research institutes and universities to maintain competition on the US market.