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EBRD official: SMEs in Egypt stand at 3 million projects
Dr. Reem El Saady, Regional Principal Manager- SME F&D at EBRD, said the number of small and medium-sized enterprises (SMEs) in Egypt hit 3 million projects.
She added, however, that the problem facing owners of these enterprises is lacking information on means of obtaining finance.
She made the remarks during the second session of the 3rd Egypt Business Solutions Summit which was held on Monday under the aegis of Prime Minister Moustafa Madbouli.
El Saady underlined the need for a booklet or guide book on how to obtain financing.
She pointed out that banks have many funding programs for women and youth entrepreneurs, but not all business owners have an inkling of these programs.
She added that SMEs owners face difficulties in acquiring such data, noting that the law on SMEs enacted in 2017 is rich with incentives; however, most business owners are not familiar with the law and the incentives it offers.
El Saady noted that the rumors circulated about financing perplexes SMEs owners.
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