Cairo – Mubasher: Saudi Arabia has so far financed a total of 2,176 projects in 27 Egyptian governorates through a grant of $200 million, the Egyptian minister of international cooperation Rania Al-Mashat said. 

These projects have contributed to creating about 12,000 jobs, Al-Mashat revealed in a statement on Thursday.

The most populous Arab nation aims to capitalise on the Saudi grant by achieving sustainable development goals, creating jobs, and supporting small- and mid-cap enterprises (SMEs) in several governorates in the coming period, she added.

The top intermediary entities providing financing to SMEs from the Saudi grant include the National Bank of Egypt (NBE) and Micro, Small, and Medium Enterprise Development Agency (MSMEDA).

Several companies benefited from the grant, topped by EFG Hermes Leasing, Enmaa Finance Company, Plus Leasing, ValU, Global Leasing Company, and UE finance.