MSMEs
Islam Azzam, chairperson of the Financial Regulatory Authority (FRA), held an expanded meeting with representatives of companies financing micro, small, and medium enterprises (MSMEs), emphasizing responsible pricing frameworks. He stressed balancing business sustainability and client protection to build confidence and drive sector growth.
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Amid logistics disruptions from the West Asia war, the government announced a ₹497 crore relief package for exporters on Thursday. Named RELIEF, it includes three components enhancing ECGC credit insurance and supporting MSMEs.
Bassil Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), announced that the agency has channeled EGP 22.7 billion in funding since 2022, supporting around 493,000 projects across governorates and creating over one million jobs. Young people and women received 47% of the total financing. The agency also organized more than 1,600 training programs to enhance administrative skills.
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The Union Cabinet has approved a six-year Export Promotion Mission worth Rs 25,060 crore to bolster Indian exports facing a 50 per cent US tariff hit. This comes as shipments to the US declined 12 per cent in September. The mission targets key sectors like textiles and engineering goods to sustain jobs and diversify markets.