Mashaat: EGP 270 m Saudi funding for SMEs in Egypt

International Cooperation Minister Rania el Mashaat said the Saudi Grant Management Committee decided to extend a total of EGP 270 million to support clean energy and micro enterprises in Egypt.

The committee decided to extend EGP 70 million to Banque Misr to fund the procurement of machines and equipment for factories and transport means of the medical sector.

The Industrial Development Bank will get EGP 100 million for funding programs for clean energy.

The Banque Du Caire will get EGP 100 million for funding micro projects.

The committee launched a website to help those seeking to benefit from the grants offered to support small and medium-sized projects.

The committee has since its launch offered a total of EGP 1.5 billion for funding 2,500 projects in 27 governorates.