Arab Finance: The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) has allocated EGP 28 billion over the past 11 years to support micro, small, and medium enterprises in Upper Egypt, according to a statement issued by the agency.
The funding has financed nearly one million projects and generated 1.7 million job opportunities for young people in the region.
CEO of MSMEDA Basel Rahmy said the agency has expanded its financial and non-financial services in line with the state’s focus on developing Upper Egypt governorates.
He noted that MSMEDA aims to create an enabling environment for establishing and growing diverse projects—particularly productive and industrial projects—and to empower their owners through access to state-backed investment services.
These efforts, he said, are meant to strengthen the contribution of such enterprises to the national economy and support the creation of sustainable employment opportunities for citizens and youth.
Rahmy’s remarks were delivered during the conference Reforming and Empowering Local Administration: Lessons Learned from the Upper Egypt Local Development Program, held under the auspices of Prime Minister Mostafa Madbouly and organized by the Ministry of Local Development in cooperation with the World Bank.
Rahmy participated in the conference’s second session, titled Enhancing Local Competitiveness: Lessons, Achievements, and Next Steps for Local Economic Development in Egypt.
He praised the Upper Egypt Local Development Program, highlighting MSMEDA’s role in providing services and support to micro, small, and medium enterprises across Upper Egypt.
He described the program as a cornerstone of the state’s efforts to achieve balanced regional development and promote inclusive economic growth through partnerships with the private sector.
He added that the conference offers an important platform to review achievements and prepare for the next phase of comprehensive regional economic development.
Rahmy said MSMEDA played a significant role in integrating key production clusters into local value chains as part of the program.
The agency supported clusters in Sohag, Minya, Assiut, and Qena—including those specializing in pomegranates, aromatic plants, kilims, tent-making, carpets, pottery, and furniture—helping them expand, reach wider markets, and create more job opportunities.
Support included mobile service vehicles that provided funding, assistance for participation in exhibitions, and professional, training, and marketing workshops aimed at improving productivity.
He added that MSMEDA’s future plans focus on supporting all types of projects, with special emphasis on industrial, craft, and innovative enterprises because of their economic importance and job-creation potential.
The agency aims to further integrate these projects into local value chains by offering diverse financing options, essential training programs, and a supportive regulatory environment.
This includes working on more suitable legislation, encouraging the formalization of informal enterprises through incentives, and strengthening a culture of entrepreneurship.
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