{"id":325352,"date":"2022-05-09T12:43:46","date_gmt":"2022-05-09T12:43:46","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=325352"},"modified":"2022-05-09T12:43:46","modified_gmt":"2022-05-09T12:43:46","slug":"msmeda-injects-egp-2bn-to-finance-60k-projects-during-q1-22","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2022\/05\/09\/msmeda-injects-egp-2bn-to-finance-60k-projects-during-q1-22\/","title":{"rendered":"MSMEDA injects EGP 2bn to finance 60k projects during Q1-22"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">MSMEDA financed more than 60,000 small and micro projects during the first quarter (1Q) of 2022 with about EGP 2bn, which generated over 105,000 jobs, according to Minister of Trade and Industry Nevine Gamea \u2014 CEO of the Micro, Small, and Medium Enterprise Development Agency (MSMEDA)<br \/>\n<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">She said that the agency will continue to support the small enterprise sector in coordination with various state agencies to implement the directives of the political leadership. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The minister added that the MSMEDA seeks to provide the necessary services to encourage citizens to establish and expand new projects. This would eventually lead to reducing imports and limit USD expenditures. Additionally, projects with a competitive advantage in foreign markets are encouraged to increase their ability to export.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Furthermore, Gamea said that the agency\u2019s activities during this period depended on a number of axes that are consistent with the state\u2019s plan to support the small enterprise sector, including focusing on the governorates of Upper Egypt and the border areas to achieve the maximum possible benefit from natural resources. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">She noted that these governorates received more than 50% of the total financing that went to small and micro enterprises, with women receiving 48% of the total financing provided by the agency.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Gamea also stressed that citizens were encouraged to start new small projects, as more than 3,000 projects were funded, accounting for 37% of the total new small enterprises funded during the same period. Citizens in the age group from 30 to 40 years benefited at a rate of 36% of the total financing.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">She explained that the MSMEDA, in cooperation with the governorates and the executive bodies, implemented projects for infrastructure, community development, and training for employment to provide a suitable environment for establishing and expanding small and micro projects, in addition to providing wages for irregular workers, as these projects provided more than 602,000 daily work opportunity.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">With regard to technically supporting projects and assisting them in the procedures for establishing, licensing, and extracting the necessary documents for operation, Gamea indicated that the one-stop-shop units of the agency in all governorates activate the various advantages of the new project development law 152 of 2020. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">It also provided about 35,000 services to citizens, including issuing final licenses and temporary licenses for new projects as well as issuing permanent and temporary licenses to regularise the status of projects operating in the informal sector.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">She added that training programmes were implemented to spread the idea of <\/span><span class=\"s3\">\u200b\u200b<\/span><span class=\"s1\">self-employment, with about 93 training courses provided, benefiting about 2,000 young men and women in cooperation with the Ministries of Youth and Sports and Manpower, the International Labour Organisation, and a large number of universities.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MSMEDA financed more than 60,000 small and micro projects during the first quarter (1Q) of 2022 with about EGP 2bn, which generated over 105,000 jobs, according to Minister of Trade and Industry Nevine Gamea \u2014 CEO of the Micro, Small, and Medium Enterprise Development Agency (MSMEDA)<\/p>\n","protected":false},"author":4,"featured_media":319935,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[33,21],"tags":[88],"class_list":["post-325352","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-main","category-news","tag-msmeda"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - 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