Cairo: Chief Executive Officer of the Micro, Small and Medium Enterprise Development Agency (MSMEDA) Bassel Rahmy announced that the agency has injected EGP 79.6 billion in financing into more than four million projects across various economic sectors since its establishment 35 years ago under its former name, the Social Fund for Development, helping create approximately 6.8 million job opportunities.
According to State Information Service Egypt, the agency also provided EGP 7.1 billion to finance infrastructure, community development, and training projects aimed at creating a conducive environment for the growth of enterprises of all types, in coordination with governorates and relevant authorities. The financing support extended by MSMEDA to the micro, small, and medium-sized enterprise (MSME) sector has witnessed growth since President Abdel Fattah El Sisi assumed office. From 2014 through April 2026, the agency provided EGP 62.4 billion in financing to the sector, representing more than 82 percent of the total financing extended since the agency's establishment in 1991.
Rahmy noted that MSMEDA is committed to delivering its services across all governorates nationwide, including Upper Egypt, the Nile Delta, border governorates, and Sinai, covering industrial, agricultural, livestock, service, and commercial activities. He stated that 51 percent of beneficiaries were men and 49 percent were women. The agency has also trained tens of thousands of young people and citizens in entrepreneurship and marketing skills, while enabling them to participate in around 2,346 international, national, and local exhibitions to help expand, sustain, and grow their businesses.
Rahmy praised the partnerships established by the agency over the past 35 years with donor organizations, international institutions, counterpart entities, local partners, ministries, civil society organizations, and major financial and banking institutions in Egypt involved in supporting the MSME sector. He said these partnerships have resulted in numerous areas of cooperation that have played a role in promoting a culture of entrepreneurship and self-employment, while empowering citizens through access to financing for their businesses.
Rahmy also commended the agency's strategic partnership with the United Nations Development Program (UNDP), which has spanned 35 years and played a role in supporting MSMEDA's efforts to develop Egypt's enterprise sector and implement international best development practices, particularly in fields such as the green economy, innovation, entrepreneurship, and modern technology. He added that the agency is committed to further strengthening its partnerships with international partners and Egyptian institutions to secure financing and support services that foster a more investment-friendly environment and encourage young people to establish more enterprises, particularly in innovative and entrepreneurial fields.
Rahmy also stressed the agency's continued focus on economically and socially empowering women and improving the quality of life in areas most in need of development services.