MSMEDA obtains €15m grant from EIB to fund infrastructure, community projects in 6 governorates
The Micro, Small and Medium Enterprise Development Agency (MSMEDA) and the ministry of investment and international cooperation signed a community infrastructure development programme with the European Investment Bank (EIB) through which the MSMEDA will receive a €15m grant from the EIB to finance infrastructure projects in six governorates.
According to the MSMEDA CEO, Nevine Gamea, the programme aims to implement infrastructure projects in the fields of roads, school renovations, health units, youth centres, market development, open areas, water and sanitation in Giza, Alexandria, Sharkia, Menoufia, Port Said and Assiut governorates.
Gamea stressed that the MSMEDA’s interest in implementing the infrastructure and community development projects is a mechanism to meet Egypt’s urgent needs to create short-term employment opportunities, as well as the social and economic benefit of these development projects.
She added that these projects benefit 2 million residents of the target areas, and provides about 320,000 daily jobs, noting that these projects will be implemented in cooperation with the directorates of roads, housing, youth, educational buildings, and water and sanitation companies.
The MSMEDA is implementing infrastructure projects to support the environment necessary for the growth and development of small enterprises in communities most in need, in cooperation with the provinces and ministries concerned at the state level, and the benefit from small local contractors and community associations with experience.
In order to create the largest number of daily jobs, intensive employment methods and methodology are used. The usual machines in the implementation of infrastructure and public works’ projects are replaced by unemployed and unskilled, or semi-skilled labour, and the hiring of small local contractors, in addition to providing community services to the target groups in poor areas in order to improve living standards.