He added the packages cost EGP 1.8 billion for about 37,000 projects that provided about 100,000 job opportunities during 9 years
The Micro, Small, and Medium Enterprise Development Agency (MSMEDA), injected EGP 470 million into converting 59,000 cars to operate on natural gas, which represented about 40% of the cars converted in Egypt from January 2021 to June 2023, according to a statement by the CEO of MSMEDA, Bassel Rahmy.
Rahmy added that the agency also provided packages of financial and non-financial services for the automotive feeding and supply chain industries. He added the packages cost EGP 1.8 billion for about 37,000 projects that provided about 100,000 job opportunities during 9 years.
Within the framework of Egypt’s strategy aimed at gradually transitioning to a green economy, MSMEDA seeks to implement the state’s directives to integrate the environmental dimension into various fields, economic activities, and projects, the CEO of MSMEDA added.
Rahmy praised the memorandum of understanding (MoU) signed between the agency and the East Port Said Development Company, which aims to create the necessary infrastructure for the growth of the small enterprise sector.
He added that the MoU reflects the state’s strategic direction for the reconstruction of Sinai as well as the development and competitiveness of small and medium enterprises.
Recently in November, MSMEDA pumped about EGP 642 million from 2014 to 2023, to finance about 9,000 small and micro projects in the North and South Sinai governorates and providing about 20,000 job opportunities, Rahmy stated.