CAIRO – 17 March 2021: The Cabinet approved Wednesday a soft financing deal between Egypt and Kuwait's Arab Fund for Economic and Social Development. The deal is worth $50 million and is targeted at funding micro, small and medium enterprises. Local Development Fund agreed in January to finance 203 small and micro projects with investments exceeding LE 2.3 million in 9 governorates, according to Minister of Local Development Mahmoud Shaarawy. The minister explained that the most popular governorates with the Fund’s loans, are Minya 445 projects, Dakahlia 389 projects, Sohag 290, Gharbia 269 and Sharkia 174 projects. He pointed out that the percentage of projects implemented by women exceeded 80 percent in the governorates of Qalyubia, Giza, Beheira, and North Sinai.

Source: Egypt Today March 17, 2021 12:33 UTC