The Micro, Small and Medium Enterprise Development Agency (MSMEDA) and Banque du Caire have signed two new financing agreements totalling EGP 500 million to support micro-enterprises across Egypt, officials announced on Wednesday, August 13.
The agreements were signed by Mohamed Medhat, Deputy CEO of MSMEDA, and Ayman Khattab, Head of the Financial Institutions Sector at Banque du Caire, in the presence of senior officials from both organisations.
Basil Rahmy, CEO of MSMEDA, emphasised the importance of expanding micro-financing to strengthen economic development and support vulnerable groups.
“These contracts aim to help project owners develop their initiatives, enhance productivity, and access foreign markets, creating more job opportunities and contributing to the advancement of the national economy,” he said.
The agreements are designed to empower micro-enterprises, particularly by integrating informal businesses into the formal economy.
One contract focuses on supporting micro-entrepreneurs operating in the informal sector, providing financing to encourage growth and access to state-provided incentives. The second contract targets existing micro-enterprises seeking expansion, renewal, or operational improvement, offering concessional financing to boost production and competitiveness in local markets.
Each beneficiary can access up to EGP 500,000, allowing flexibility to meet diverse project needs.
MSMEDA and Banque du Caire plan to finance approximately 5,300 micro-projects across Egypt, with particular attention to women and youth, who form a significant portion of micro-entrepreneurs in the country.
Bahaa El Shafei, Deputy CEO of Banque du Caire, praised the partnership, highlighting its long-term impact. “Over the past decade, our collaboration has financed more than 862,000 micro-enterprises, creating around 1.3 million job opportunities, especially for youth and female breadwinners,” he said, noting the bank’s strong presence in Upper Egypt, which accounts for 51% of clients in this sector.
The initiative aligns with Egypt’s Vision 2030, promoting financial inclusion, sustainable development, and enhanced economic participation. By providing both financial and non-financial support, MSMEDA and Banque du Caire aim to strengthen micro-enterprises as a cornerstone of national economic growth.
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