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Achievements of 7 years..Availability of 32.3 billion pounds of loans for small and micro enterprises

The Small, Medium and Micro Enterprise Development Agency announced that the volume of funding disbursed to this sector has doubled, as the agency has made available 32.3 billion pounds in loans to small and micro enterprises during the period from July 1, 2014 to May 31, 2021, equivalent to five times the percentages achieved annually before President Sisi assumed responsibility.

The agency also provided grants during the same period amounting to 2.5 billion pounds for infrastructure and community development projects that benefited all governorates, especially Upper Egypt and rural areas, and also included the development of many slums.

This came in a report by the Enterprise Development Authority entitled "7 years of stability and development" in the context of the celebration of the International Day for Small, Medium and Micro Enterprises, which contains the activities carried out by the Agency during the past seven years, during which this sector witnessed unprecedented support from the political leadership represented by President Abdel Fattah al-Sisi. Al-Fattah Al-Sisi, President of the Republic.

Nevin Gamea, Minister of Trade and Industry and CEO of the Enterprise Development Authority, said that the past seven years have witnessed many pressures and challenges, accompanied by an unprecedented series of successes and achievements.

The President of the Republic directed an unparalleled interest in accelerating the process of comprehensive economic and social development in all its aspects, taking upon himself the responsibility of rebuilding Egypt. This was evident in his continuous and direct directives to activate all state agencies and institutions to support development issues, including, but not limited to, interest in youth projects and the advancement of capabilities Egyptian women and activating their participation in economic development and expansion of infrastructure and community projects to develop the Egyptian countryside and raise the standard of living for citizens and provide a decent life for all segments of society

The Enterprise Development Agency, in particular, received the support and support of the President of the Republic, so that it became one of the most important state agencies concerned with the development of the medium, small and micro enterprises sector and the development of a national program for the advancement of this sector and the development of plans and policies necessary to promote youth and entrepreneurship projects and the issuance of Enterprise Development Law No. 152 of 2020, which included A package of facilities and incentives to support the small and micro enterprises sector and expand their financing and the provision of non-financial services such as training and marketing to ensure the continuity and success of these projects and encourage young people to self-employment and entrepreneurship, in addition to providing many incentives for projects operating in the informal sector to encourage them to join the formal sector and develop its products and competitive capabilities.

She stressed that the agency would not have succeeded in implementing its achievements and doubling its outputs at the level of the governorates of the republic as a whole without the support of the President and his great support for the agency during all stages of its work and his increasing keenness to maximize the scope of its competencies and powers until it became one of the main mechanisms that effectively contribute to the implementation of presidential directions National initiatives and plans of the state.