The Egyptian Micro, Small, and Medium Enterprise Development Agency (MSMEDA) seeks to inject EGP 16.5 billion in the microfinance sector during the upcoming five years, the Head of the Central Sector for Microfinance at MSMEDA, Nevin Badr, announced.
Badr said that the MSMEDA plans to cooperate with 50 financing entities to support microprojects during 2022.
In 2021, the agency financed microprojects with around EGP 4.5 billion, up by about 200% from EGP 1.9 billion in 2020.
Badr added that women have accounted for 43% of the total number of financed microprojects last year.
Since the MSMEDA’s establishment in 1991, the Central Sector for Microfinance has injected EGP 23 billion in microprojects, including EGP 17.5 billion granted through 1.3 million loans in the past seven years.
