Mubasher TV
Contact Us Advertising   العربية

Germany’s KfW, EU provide EUR 49.5m funding to Egypt’s MSMEDA

Germany’s KfW, EU provide EUR 49.5m funding to Egypt’s MSMEDA
Germany’s KfW will provide a long-term soft loan worth EUR 30 million

Cairo – Mubasher: The Egyptian Micro, Small, and Medium Enterprise Development Agency (MSMEDA), KfW Development Bank, and the European Union (EU) have signed a EUR 49.5 million funding agreement, the Middle East News Agency (MENA) reported on Wednesday.

Under the deal, Germany’s KfW will provide a long-term soft loan worth EUR 30 million to be used by MSMEDA to expand into financing micro-, small-, and medium-sized enterprises (MSMEs).  

Moreover, the agreement also includes a grant worth EUR 4.5 million from the German government and a EUR 14.9 million grant from the EU to support non-financial services provided by MSMEDA.