Bassel Rahmy, CEO of MSMEDA, and Ahmed Khorshid, CEO of Tamweely Financial Services, signed two agreements providing EGP 350m for microfinance programmes. The deals are expected to support around 3,000 projects.
The signing took place on 7 July 2026. The first agreement, worth EGP 100m, focuses on projects that strengthen productive capacity and encourage businesses to join the formal economy in cooperation with the Ministry of Finance and the Egyptian Tax Authority. The second agreement, valued at EGP 250m, supports new micro-enterprises and helps existing ones expand and modernise operations.
Each project can receive up to EGP 292,000. The initiative forms part of Egypt's efforts to expand access to microfinance, promote self-employment and create jobs.
Rahmy said the agreements expand MSMEDA's microfinance portfolio and make financing available to young entrepreneurs. Khorshid noted that the facilities reinforce the partnership between the two organisations and support financial inclusion under Egypt Vision 2030.