Egypt provides micro-sized projects with EGP18.7bln finances by 2020 end

The volume of finances allocated for micro-sized projects has reached 18.7 billion Egyptian pounds by the end of 2020; up 13.3 percent when compared to the earlier year, according to the Financial Regulatory Authority  Chairman.

Some 3.2 million persons have benefited from the funds by the end of the first quarter of 2020, said FRA chairman Mohamed Omran

Funds of micro-sized enterprises amounted to 17.8 billion pounds during the first quarter of 2020 compared to 12.7 billion pounds in the corresponding period a year earlier, Omran said via video conference.

However, Omran blamed the coronavirus pandemic for slow growth rates reported in the end of 2020.