The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has increased its performance significantly since President Abdel Fattah Al-Sisi took office in July 2014, according to its CEO Bassel Rahmi. He stated that the agency has provided EGP 48.3bn in funding for 1.9 million small and micro projects, creating and maintaining more than 3 million jobs.
The report “The New Republic: Years of Challenges and Achievements” revealed the distribution of the agency’s funds across different regions and sectors. The Southern provinces received the largest share of 47%, followed by the Northern provinces with 36%, the urban provinces with 12%, and the border provinces with 5%. The report also showed that 45% of the funds supported female entrepreneurs, while 55% went to male entrepreneurs.
The agency allocated EGP 25bn for micro-projects, benefiting around 1.713 million projects and providing 2.53 million job opportunities. Additionally, EGP 23.3 billion was disbursed for around 192,716 small projects, generating around 481,347 job opportunities.
The report highlighted the agency’s achievements in Upper Egypt, where it disbursed EGP 22.5bn for small and micro-projects, providing 1.5 million job opportunities. Moreover, the agency funded community and human development projects in Upper Egypt with EGP 2bn, creating 24.1 million workdays for irregular labor.
The agency also signed 84 agreements with development partners worth EGP 1.195bn for infrastructure projects, generating 5.225 million workdays. In the community development sector, 341 projects were funded with EGP 360.9m, resulting in 18.853 million workdays. The agency also financed projects in the fields of health, education, and environment with EGP 103.9m, EGP 99.9m, and EGP 157.01m respectively.