Previous Post
5 Easter Trends for 5 Spring Destinations in Egypt
Next Post
A Lyrical Analysis of Cairokee's Latest Hit

EGP 400 Million Pool by Egyptian National Bank for Entrepreneurs

Small and medium businesses are getting a huge boost in loans and investments.

Great news for all you industrious dreamers and entrepreneurs; thanks to a recent contract between the Micro, Small and Medium Enterprise Development Authority (MSMEDA) and the National Bank of Egypt (NBE), small and medium sized projects now have access to a EGP 400 million resource pool to fund their projects and developments. Commercial projects in in the fields of industry, livestock, renewable energy, agriculture as well as franchises may be granted up to EGP 5 million to speed things along, with other fields eligible for an EGP 2 million financing deal.

This comes in as part of the country’s recent focus on supporting small-and-medium-sized businesses and projects, providing around EGP 24 billion in financing to 2.8 million projects thus far, spawning something in the neighbourhood of 4 million jobs and furthering Egypt’s economic growth in a time when it is sorely needed. In addition, it is planned that 20% of future bank loans within the coming four years are to be allocated to Small and Medium Enterprises (SMEs), with interest on loans given to youth initiatives staying under the 5% mark, giving would-be entrepreneurs and business owners a great opportunity to get cracking.

Established in 2017, the MSMEDA’s main goal is to nurture, support and finance SMEs; having financed around 224,000 micro and small projects with a pool of EGP 4.5 million in 2017 alone, creating 305,000 jobs in the process.

 

 


Todays Events
Bluezophrenia @  CJC 610
Clubs
Date: 7/23/2018
Time: 10:30pm - 3:00am
Venue: Cairo Jazz Club 610
Ghalia Benali @ Alexandria Opera House
Concerts
Date: 7/23/2018
Time: 8:00pm - 10:00pm
Venue: Alexandria Opera House
Adham Roshdy & The Wave Jazz Band @ Jazz Bar
Bars
Date: 7/23/2018
Time: 9:30pm - 1:00am
Venue: Kempinski Jazz Bar
Aly Goede & Ashmawy @ Cairo Jazz Club
Bars
Date: 7/23/2018
Time: 10:00pm - 3:00am
Venue: Cairo Jazz Club
Board Games Night @ Gramophone
Variety
Date: 7/23/2018
Time: 6:00pm - 11:00pm
Venue: Gramophone
Karaoke Night @ Room Art Space
Concerts
Date: 7/23/2018
Time: 8:00pm - 11:00pm
Venue: Room Art Space
Teaching Arabic as a Foreign Language @ NVIC
Course
Date: 7/23/2018
Time: 9:00am - 4:00pm
Venue: Netherlands-Flemish Institute
Copper Accessories Workshop @  Darb 1718
Workshop
Date: 7/23/2018
Time: 7:00pm - 11:00pm
Venue: Darb 1718