11 Jun

Initiative to facilitate access to finance

Initiative to facilitate access to finance for small and medium-sized enterprises

The state is directing support for small and medium-sized enterprises (SMEs) and a multiplicity of initiatives aimed at financing projects in cooperation with the Egyptian Chamber of Industry and the central bank, allocating 200 billion pounds to finance those projects.

The European Union has also cooperated with the central bank, the Ministry of Trade and Industry, the European Bank for Reconstruction and Development and the European Investment Bank provision of up to 200/300 million Euro ( For 3 years) under its Special initiative to facilitate access to finance for small and medium-sized enterprises

This initiative combines financing into a picture

First: Loans to finance machinery, equipment and working capital.

Second: Grants to the food industry sector: technical Support/capacity development/risk sharing mechanism etc.

*The aim of the initiative is to determine how to make use of the amount allocated to the initiative and to make recommendations to stakeholders on the most appropriate means of financing projects in addition to identifying financial/non-financial support required for the development of small and medium-sized enterprises to contribute to improved financing of value chains in the food industry sector.

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