Cairo – Mubasher: The Egyptian Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has allocated EGP 1.19 billion in funding to 48,743 small and micro projects during the first third of 2020, MSMEDA’s executive director and the Minister of Trade and Industry, Nevine Gamea, said in a statement on Tuesday.

The financing comes as part of efforts to combat the negative fallout of the coronavirus (COVID-19) and its impact on the MSMEs.

Yesterday, The Egyptian manpower minister, Mohamed Saafan, announced a new EGP 150 million package to support around 140,000 regular workers in 1,200 institutions, in line with the directives to provide salaries to the regular employees working in sectors most affected by the COVID-19 outbreak.