A delegate of the Medium, Small, and Micro Enterprises Development Authority (MSMEDA) said on Wednesday that the government injected LE70 million to counter illegal immigration in three governorates as part of the implementation of the local development initiatives project.
During a meeting with Governor of Minya Qassem Hussein, the delegate added that the amount would fund youth development projects as part of Egypt’s Strategy for Sustainable Development 2030.
Egypt will sign the agreement and start its implementation within months.
Hussein pointed out that Egypt will support activities that offer labor opportunities for youth and improve families’ social conditions.
President Abdel Fattah al-Sisi assigned the Central Bank of Egypt (CBE) in 2016 the implementation of a comprehensive program for supporting small and medium businesses, asserting that loans for SMEs over the next four years would not be less than 20 percent of all loans.
Edited translation from Al-Masry Al-Youm