Egypt’s MSMEDA negotiating for$350 mln foreign loans

The Micro, Small and Medium Enterprises Development Agency (MSMEDA) is close to receive a package of foreign funding worth $350 million from three international institutions, MSMEDA’s Managing Director Nevein Gamea said.

Gamea told Amwal Al Ghad  that MSEMDA has agreed with the world bank on a funding of $200 million directed to small projects  in addition to the non banking services including the micro financing, financial leasing and venture capital.

Moreover, MSMEDA is negotiating with OPEC Fund for International Development on a funding of $120 million  directed to small projects.In addition, it negotiates a funding deal of $30 million with German Development Bank (The KfW).