For inclusive economic development, Dr. Manal Awad, Minister of Local Development, announced the latest results of the Local Development Fund (LDF) for the fiscal year 2024–2025. The fund plays a key role in empowering rural households and youth by supporting income-generating microenterprises across the country’s villages and underserved communities.
Between July 2024 and June 2025, the Fund financed 2,047 projects with total investments reaching EGP 42 million, supporting a broad spectrum of microbusinesses including livestock and poultry farming, food retail outlets, clothing and furnishings, fertilizers and grains, meat and poultry trading, as well as handicrafts, home-based industries, dairy products, and honey production.
“The Local Development Fund remains a cornerstone of our strategy to improve rural livelihoods and promote economic self-sufficiency,” said Dr. Awad, noting that the initiative is directly aligned with the directives of President Abdel Fattah El-Sisi and the mandates of Prime Minister Mostafa Madbouly to expand microfinance and local development mechanisms.
Women Leading the Way in Rural Entrepreneurship
According to a report submitted by Dr. Said Helmy, Head of Strategic Management and Local Development Sector at the Ministry, 66% of the funded projects were led by women, totaling 1,348 female-led businesses. The remaining 699 projects were implemented by male beneficiaries.
“This strong female participation reflects the government’s ongoing efforts to empower women economically—especially female breadwinners in rural communities,” the minister added.
“Mashrouak” Initiative
In a related development, Dr. Awad announced adjustments to the financing tiers of the ‘Mashrouak’ (Your Project) initiative, in collaboration with key banking partners: Banque Misr, Banque du Caire, National Bank of Egypt, Agricultural Bank of Egypt, Housing and Development Bank, and Bank of Alexandria.
These adjustments are designed to reflect recent economic and banking shifts while expanding access to finance for aspiring entrepreneurs.
As a result, Banque Misr financed 400 new microprojects between May and mid-June, and Bank of Alexandria broadened its financing criteria to include additional segments of applicants, indicating growing momentum behind the initiative.
Driving Local Economic Growth and Social Equity
Minister Awad emphasized that the Ministry will continue to support development programs targeting youth and women, particularly in rural villages and local administrative centers.
“Our objective is to promote local economic growth, strengthen social equity, and create sustainable employment opportunities that directly enhance household incomes in Egypt’s countryside,” she affirmed.
Both the Local Development Fund and the Mashrouak initiative remain essential pillars of Egypt’s decentralized development vision, providing practical tools to tackle poverty, reduce unemployment, and foster community resilience through micro-entrepreneurship.
