Cairo – Mubasher: Egypt's Minister of Local Development, Hisham Amna, announced that Mashroak national initiative helped in developing over 200,700 projects through loans valued at EGP 25.60 billion, which created around 2 million job opportunities.
In line with the directives of President Abdel Fattah El-Sisi, Mashroak aims to anchor sustainable economic development in Egypt by providing soft financing programmes for all productive projects that meet the needs of the local market and secure job opportunities.
It also focuses on the micro, small, or medium enterprises (MSMEs) to lower the import bill amid the ongoing global economic crisis, according to the ministry’s official statement.
Amna pointed out that Minya topped the governorates involved in Mashroak programme with 22,600 projects and loans exceeding EGP 2.70 billion until the present time.
Meanwhile, Sohag implemented more than 21,000 projects with funding worth EGP 2.70 billion, followed by Dakahlia with 16,200 projects and financing of EGP 1.90 billion.
