The Agency for the Development of Micro, Small and Medium Enterprises (MSMEDA) signed a financing agreement with the International Arab-African Bank (AAIB) worth 150 million Egyptian pounds on Thursday, May 15, according to a statement from the Council of Ministers published the same day. Under this joint agreement, the AAIB will again lend financing to MSMEs in all governorates of Egypt, targeting owners of new and existing MSMEs, with an emphasis on new projects and women-owned

This agreement aims to finance small and medium-sized productive and industrial projects in the country's governorates. Basil Rahmy, CEO of MSMEDA, sealed the financing agreement with Tamer Waheed, Vice President and

This is part of Prime Minister Mostafa Madbouly's directives to expand funding for MSMEs in order to increase their production, create job opportunities, and contribute to the development of the national economy.

Under this joint agreement, the AAIB will again lend financing to MSMEs in all governorates of Egypt, targeting new and existing MSME owners, with an emphasis on new projects and women-owned businesses.

Rahmy pointed out that the bank will provide a maximum of 15 million Egyptian pounds for small projects and 30 million Egyptian pounds for medium-sized projects. This loan will be used to finance the purchase of new machinery and the working capital of new and existing projects, in accordance with requirements.