Cairo – Mubasher: The Micro, Small, and Medium Enterprise (MSME) Development Agency has signed an agreement for My Start 4 programme with Banque du Caire.
The agency will fund the project with EGP 500 million, according to an official statement released on Friday.
The project is aimed at financing micro enterprises through soft loans, which help them develop, expand, and continue, the statement added.
The recent agreement with Banque Du Caire came in line with Egypt’s plan to offer finance for micro enterprises and encourage youths to launch new projects, CEO of MSME Development Agency Nevine Fayed said.
Since its establishment, the MSME Development Agency pumped EGP 15.8 billion in finance for 2.7 million clients through Banque Du Caire and Banque Misr, along with hundreds of NGOs.
