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The “Mashroak” national project for community, human, and local development has provided loans worth EGP 29.3bn, to 213,500 projects, since its launch in 2015 until September 2024, according to Manal Awad, Minister of Local Development. These projects generated over 1.444 million job opportunities across all governorates.

Awad pointed out that Minya ranked first in the total number of projects implemented since the initiative began, with 23,500 projects at a cost exceeding EGP 3bn, providing more than 159,200 jobs. It is followed by Sohag with 23,000 projects funded by EGP 3.6bn, generating 156,700 jobs. Beheira comes next with 19,000 projects at EGP 1.7bn, providing 102,300 job opportunities. Dakahleya saw 17,200 projects with loans exceeding EGP 2bn, generating more than 106,000 jobs, while Sharqeya executed 16,800 projects with loans of approximately EGP 2.7bn, creating 133,700 jobs.

The minister emphasized President Abdel Fattah Al-Sisi’s interest in the small, medium, and micro enterprises (SMEs) sector. His constant directives to all state agencies aim to facilitate coordination and overcome challenges faced by young entrepreneurs by providing necessary services and support to advance this sector and achieve comprehensive economic and social development.

Awad noted that the ministry particularly focused on youth-led small projects due to their dynamic nature and potential as an economic powerhouse. The goal is to leverage this energy for overall development across various sectors, ensuring success, progress, and economic prosperity.

She highlighted that SMEs are notable for their ability to employ large numbers of workers, offer on-the-job training to enhance skills and present lower risk compared to larger projects. Additionally, these enterprises improve productivity, generate income, and contribute to economic growth. The ministry is keen on training staff at “Mashroak” offices across governorates through the Local Development Training Center in Saqqara on financial basics for small and micro project financing, the advantages of each bank’s funding schemes, and the fundamental concepts of SMEs.

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