Arab Finance: Egyptian Micro, Small and Medium Enterprises Development Agency (MSMEDA) and the microfinance firm Bedayti have signed EGP 100 million financing agreement to back micro enterprises, according to a statement on July 19^th.

This comes as part of the state’s plan to expand financing micro businesses.

The signed agreement targets financing around 2,000 clients to fund the working capital of each project by up to EGP 200,000.

MSMEDA’s CEO Basel Rahmy said that providing microfinance creates decent job opportunities, especially for young graduates and women, and encourages citizens to start new projects that contribute to improving their standard of living.

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