The fund provides micro and small loans for low-income families to raise their income and to reduce unemployment rates, according to a statement by the ministry.

These loan extensions are part of the ministry’s role in supporting local development in villages and the areas that are most in need, the statement added.

The fund’s allocations have been increased by EGP 21.6 million after its resources were depleted during the first seven months of the current fiscal year, according to Shaarawy.

Minya was among the governorates that benefited most from the loan with 323 projects, followed by Daqahliya with 231 projects, Beni Suef with 143 projects, Sharqiya with 133 projects, and Sohag with 130 projects.

In addition, the fund has empowered 1,046 projects for women living in underdeveloped areas, accounting for 67.3 percent of the total projects implemented by the fund.

Shaarawy urged those responsible for the fund to provide new diversified packages, given that the interest rate of the fund's loans is currently 6 percent per year and 4 percent for those with disabilities as well as those who have a good track record of paying installments for previous loans in a timely manner.

Shaarawy also urged increasing awareness of the role of the fund in areas where the countryside-focused Decent Life initiative is being implemented by conducting introductory seminars in villages.

To obtain a loan from this fund, applicants should head to the fund's nearest local office with their national ID, academic certificate and military conscription papers, the statement said.