The Minister of International Cooperation, Rania Al-Mashat, witnessed the signing of a financing agreement between Egypt and Saudi Arabia.
The agreement aimed to finance and support industrial micro, small and medium enterprises (MSMEs) at a value of LE 150 M.
Both governments were represented by The Saudi Grant Management Committee (SGMC) and the Micro, Small, and Medium Enterprises Development Agency (MSMEDA).
It will invest in projects that support the industrial sector in all governorates and focus on supply chains with the aim of creating a value chain that provides raw materials and various requirements necessary for production.
This investment focuses on the continuation and expansion of industrial projects, with the aim to finance machinery, equipment, working investment, or construction work necessary for the projects.
The agreement also plans to finance MSMEs related to supporting supply chains, in addition to industrial projects in all Egyptian governorates by providing funds for about 520 beneficiaries that will create about 1,200 job opportunities.
