Egypt: The Minister of Local Development, Major General Hisham Amana, reviewed the ministry’s efforts in supporting small, medium and small enterprises and providing job opportunities for the people of the governorates. He stated that the ministry has been Financing 205 thousand projects with total loans of 26,6 billion pounds and provided 1,5 million job opportunities through the program “Your Project”.
He further mentioned that there had been the implementation of 28 thousand projects with a total of investments of about 243 million from the Local Development Fund. The program was launched and implemented under the directives of President Abdel Fattah El-Sisi, to support small and medium enterprises to provide real job opportunities for youth and women.
The program aimed to improve the living standards of families, especially in the Egyptian countryside, and to achieve the vision of Egypt 2023, which contributes to improving the quality of life of the Egyptian citizen, achieving a competitive and diverse economy, and governance of state and community institutions.
Major General Hisham Amana, the Minister of Local Development, reviewed the ministry’s achievements in the field of providing employment opportunities for youth and women during the period of President Abdel Fattah Al-Sisi took charge through its financing arms “Your Project” and the Local Development Fund and the (Your Job in Your Village) initiative.
The Minister of Local Development also confirmed that the “Your Project” program was able to finance 205,4 thousand projects with a total of loans of 26.6 billion pounds, providing about 1,5 million job opportunities, indicating that the average monthly loan amount reaches about 386.2 million pounds, which provides an average direct job opportunity 20,9 thousand job opportunities.
He clarified that among the achievements the project has succeeded in 8 years is creating a central operations room to monitor the work of headquarters in the governorates. The provision of 260 headquarters to receive clients distributed throughout the republic created 27 offices to manage the initiative in all governorates.
Along with this, the training of about 1,200 employees from Your project staff on the basics of banking financing for small and very small enterprises and their basic concepts was provided.Â
A number of seminars and promotional programs for your project in all governorates of the republic were organized, in addition to participating and organizing a group of exhibitions to market the products of your project clients at the governorate level.
Major General Hisham Amana indicated that the ministry supports small and very small enterprises to create employment opportunities for disadvantaged youth and women, especially in the village’s most needy, through the Local Development Fund.Â
Between July 2014 and June 30, 2023, the fund has succeeded in implementing more than 28 thousand projects with a total of investments of around 243 million pounds, of which 40,1 million pounds are shared from beneficiaries, said officials.
It was indicated that the total number of projects implemented by the Fund for Women is 18,3 thousand projects, 65,2% of projects.
In this context, The Minister of Local Development reviewed the “Your Work in Your Village” initiative, which aims to develop and support the small and medium industries in Egyptian villages, where a cooperation protocol was signed between the ministry and the Egyptian Federation of Industries.Â
It was also said that the initiative aims to create about 384 industrial complexes, establish about 650 medium-sized, 2000 small and extremely small projects, and provide 230 thousand direct and indirect job opportunities.
Major General Hisham Amana indicated that the Governors allocated the current executive position of the initial decisions, and the Industries Union provided 60 million pounds worth of construction. The implementation contract was also signed for the first complex in Fayoum Governorate, where Fayoum Land was handed over to Ayadi Company.
