MSMEDA Allocates $51 Million to Support 95,000 Projects in Qena

More than 95,000 small and micro enterprises in Qena have received a boost with LE 2.6 billion ($51 million) in funding from Egypt’s Micro, Small, and Medium Enterprise Development Agency (MSMEDA).

Between July 2014 and December 2024, MSMEDA’s initiative has generated over 142,000 jobs, driving economic growth in Upper Egypt. The funding has supported both new and existing businesses through financing and business development services.

MSMEDA has also streamlined licensing procedures, issuing over 7,000 final business licenses and nearly 8,000 temporary permits, while more than 5,300 classification and benefits certificates have been granted under Law 152/2020.