Egyptian Minister of International Co-operation Rania el-Mashat said the Saudi Grant Management Committee decided to extend a total of LE270 million to support clean energy and micro enterprises in Egypt.
The committee decided to extend LE70 million to Banque Misr to fund the procurement of machines and equipment for factories and means of transport for the medical sector.
The Industrial Development Bank will get LE100 million to fund clean energyprojects.
Banque Du Caire will get LE100 million to fund micro projects.
The grant aims to strengthen financing mechanisms for micro, small, and medium-sized enterprises, which are main engines for job creation and the development of talents and potentials of Egypt’s young people.
Meanwhile, the committee has 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,extended a total of LE1.5 billion for funding 2,500 projects across the country.
El-Mashat praised fruitful co-operation between Egypt and the Kingdom of Saudi Arabia in various fields.
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