‘Your Project’ programme injected EGP 25.6 bln in businesses across Egypt: Minister

Ahram Online , Sunday 4 Dec 2022

Egypt's national project to provide employment opportunities for young people, Mashrouak (“Your Project” in English), has contributed to establishing 207,000 business projects across the country, with loans amounting to about EGP 25.6 billion since its launch in 2015, Minister of Local Development Hisham Amna stated on Sunday.

Hisham Amna
Minister of Local Development Hisham Amna


These projects have contributed to providing 2 million jobs nationwide, Amna said in a statement by the ministry.

Upper Egypt's Minya governorate had the biggest number of projects at 22,600 with loans amounting to EGP 2.7 billion, providing 211,800 job opportunities.

The governorate with the second biggest number of projects is Sohag with 21,000 projects, then Daqahliya with 16,200 projects.

Your Project, officially the National Programme for Community, Human, and Local Development, encourages business projects that support the green economy by providing loans for young people to establish small and medium-sized businesses that are environmentally friendly.

The Ministry of Local Development launched Your Project in 2015 to encourage young people to establish micro, small and medium-sized enterprises (MSMEs) to accelerate development and reduce the problem of unemployment.

The project works with the Central Bank of Egypt to provide financing for businesses with interest rates that do not exceed 5 percent.

Aside from financing projects, Your Project offers a one-stop system to receive and respond to requests, reducing the documentation required for loan applicants, facilitating financing procedures, and simplifying the loan approval process, according to previous statement by the ministry.

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