CAIRO, Feb 12 – Egypt’s Micro, Small and Medium Enterprises Development Agency has allocated EGP 500 million ($10.6 million) to Suez Canal Bank to expand financing for micro, small and medium enterprises, according to an official statement.
The funding will support industrial and productive projects nationwide by financing machinery, equipment, production lines, raw materials, training programmes and quality certifications.
Under the agreement, small enterprises can access loans of up to EGP 30 million, while medium sized enterprises can obtain up to EGP 60 million. The agency said the facility aims to strengthen the productive capacity of businesses and improve their export readiness.
Basil Rahmy, Chief Executive Officer of MSMEDA, said the agreement forms part of the agency’s efforts to expand cooperation with major financial institutions and improve access to credit for business owners. He added that the financing will enable entrepreneurs to establish new projects and expand existing operations.
Rahmy noted that the programme aligns with the Ministry of Finance’s export support initiative, which encourages MSMEs to increase export activity and enter international markets. He said MSMEDA and the ministry are coordinating to provide financial and technical support to help firms meet export standards.
Suez Canal Bank will channel the funds to eligible clients under agreed lending conditions. The agency said the partnership reflects ongoing efforts to enhance the role of the banking sector in supporting productive investment and employment.
The announcement comes as Egypt continues to prioritise private sector growth and export expansion through targeted financing schemes for smaller businesses.
