Egypt: MSMEDA invests $32mln in Luxor to support small businesses, community development

Egypt: MSMEDA invests $32mln in Luxor to support small businesses, community development

Egypt - The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) has invested EGP 1bn in Luxor from July 2014 to December 2023, according to its CEO Basil Rahmi. Out of this amount, EGP 902.9m funded 31,000 small and micro enterprises, creating about 55,000 jobs for the residents. The remaining EGP 124m went to community development and infrastructure projects, generating about 1.7 million workdays for irregular workers.

Rahmi said that MSMEDA is eager to collaborate with various development partners, both international and local, to implement community projects that help address the root causes of irregular migration.

Rahmi made these statements after signing a contract with Mostafa Elham, the Governor of Luxor, to restore the Martyr Hassan Galal School in the village of Al-Bairat, Qurna. The project is funded by a grant of EGP 4m from the European Union, as part of an initiative to tackle irregular migration. The signing ceremony was attended by Walid Darwish, the Head of the Central Sector for Human Resources and Community Development in MSMEDA, and other officials from the agency and the governorate.

Rahmi explained that the project in Qurna will provide 3,703 working days for irregular workers, and benefit about 20,000 people in the area.

The school will