The Egyptian Micro, Small and Medium Enterprise Development Agency (MSMEDA) has allocated EGP 1 billion for innovative businesses, Deputy Chairman Tarek Shashsaid according to local press.
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The agency has secured $50 million under a $200 million agreement with the World Bank to finance innovative projects, Shash added.
He revealed that the agency provided EGP 250 million from its own resources, bringing the total funding to EGP 1 billion.
