Egyptian Minister of Local Development, Dr. Manal Awad, has recently emphasized the substantial progress of the “Mashroa’ak” (Your Project) National Program for Community, Human, and Local Development.
According to the Daily News, the program has facilitated the implementation of over 212,800 projects since its launch in 2015. It has provided loans totaling approximately EGP 29.2 billion, creating more than 1.442 million job opportunities across all governorates.
Awad stated that the ‘Mashroa’ak’ program is steadily advancing and achieving significant success in driving community development in villages, neighborhoods, cities, and districts. It also provides genuine job opportunities and promotes sustainable and comprehensive development throughout the country.
Minister Awad emphasized that the program is in line with President Abdel Fattah Al-Sisi’s instructions to tackle unemployment by introducing innovative solutions that promote social, human, and economic growth, adding value to projects in all governorates.
The program welcomes individuals of all age groups, not just young people, who are interested in starting small and medium-sized businesses in agriculture, industry, services, trade, marketing, freelancing, as well as livestock activities.
Awad further stated: We acknowledge the important role that small businesses play in generating employment opportunities and fostering economic growth, often transitioning into medium and large-scale enterprises.
Minister Awad affirmed her full support for the “Mashroa’ak” program in the coming phase, aiming to make it a driving force for comprehensive development nationwide.
This will be carried out in coordination with six participating banks: Banque Misr, the National Bank of Egypt, the Agricultural Bank of Egypt, Banque du Caire, the Bank of Alexandria, and the Housing and Development Bank. This is to ensure the provision of necessary funding for approved projects.
The ministry grants temporary, free licenses to approved projects, allowing them to commence operations immediately upon receiving their loans.
There is no fixed ceiling for funding under the “Mashroa’ak” initiative. Micro-projects for women heads of households and youth can start from as little as EGP 1,000 up to an amount to be specified. Small and medium-sized enterprises (SMEs) can receive funding starting from a certain amount without a maximum limit, depending on the nature of the activity and bank approval.
The “Mashroa’ak” initiative offers three main tracks for project implementation:
- Existing projects seeking expansion, supported by feasibility studies.
- Repetitive model projects, such as handicrafts that align with the resources of each governorate, with several feasibility studies available.
- New and innovative project ideas.
Minister Awad outlined the required documentation for micro-projects:
– A copy of the lease or ownership contract
– The national ID of the applicant and guarantors
– A utility bill
– A letter from the local unit where the project is located
As for small projects exceeding a certain amount, the required documents include:
– A copy of the tax card or a certificate confirming the opening of a tax file
– A copy of the commercial register
– A letter from social insurance confirming the opening of a file for the enterprise and the owner’s insurance
– A copy of the partnership contract if applicable
As nd finally medium-sized projects require additional documentation, including:
– The last three financial statements
– A recent financial position
– A feasibility study, in addition to the documents mentioned for smaller projects
The initiative has 260 offices across all governorates to receive applications. Each office includes representatives from local administration, participating banks, and relevant licensing authorities, offering all necessary facilities and support for applicants seeking loans to start small and medium-sized projects.
These offices also provide technical and administrative training to help participants maximize the benefits of the program, particularly through feasibility studies and temporary licenses until permanent licenses are issued.
Minister Awad praised the efforts of the “Mashroa’ak” program’s management at the ministry in monitoring projects with the program’s directors in the governorates.
The team prepares monthly reports on work progress, coordinates with national banks involved in the program, updates the project’s website daily, tracks the entry of loan applicants’ data into the information system, and monitors the banks’ activities.
Additionally, they work to resolve any obstacles facing borrowers and ensure that the program’s objectives are met across all governorates.
