Basil Rahmi, CEO of the Micro, Small, and Medium Enterprise Development Agency (MSMEDA), expressed the agency’s dedication to supporting innovation and entrepreneurship. Further, Rahmi detailed MSMEDA’s collaboration with various state bodies to extend financial and technical support to entrepreneurs, aligning with the Prime Minister’s directives. A notable initiative is the inaugural venture capital program, established in partnership with the World Bank Group. The program also aids new and seasoned investment funds experienced in venture capital and bolsters high-growth potential companies and innovative ventures. This included projects that benefited from MSMEDA’s services, particularly those aimed at increasing employment for women in Upper Egypt, supported by the Spanish Agency for International Development Cooperation.

Source: Daily News Egypt May 19, 2024 20:16 UTC