Cairo – Mubasher: The Egyptian National Programme for Community, Human, and Local Development (Mashroak) has financed about 2,000 projects with more than EGP 600 million in September, the Minister of Local Development, Mahmoud Shaarawy, revealed.
These projects have created around 26,000 jobs, Shaarawy noted in a statement on Wednesday.
Since the launch of this programme, about 156,000 projects have been financed with EGP 16 billion, creating above 890,000 jobs, he added.
Mashroak is part of the Central Bank of Egypt’s (CBE) initiative to finance micro-, small-, and medium-sized enterprises (MSMEs) with loans at an interest rate of 5%.
Minya came in the first position with about 18,500 projects financed with EGP 1.9 billion, followed by Sohag with 16,00 projects financed by EGP 1.8 billion.
