Small Business: We negotiate with the World Bank for $ 300 million

Nevin Jameh, Managing Director of Small and Medium Enterprises, revealed that the agency is negotiating with the World Bank to secure new funding tranches of $ 300 million in coordination with Sahar Nasro, Minister of Finance. Investment and International Cooperation. That's the case. Dr. Jameh confirmed that Sahar Nasr was marketing the project system with donors specifically for the financing of medium-sized projects, she said that the World Bank is asking for new products to finance, for example, it is seeking to increase the financing of new products. We can get loans from leasing companies at 75 million pounds. She added that the project mechanisms provide sources of self-financing for some projects in case of donor funding gap: 100 million pounds are provided by the device to convert cars to natural gas and d & # 39; Other self-financed projects according to plans and financial flows. Jamea said the increase in project funding was $ 2.4 billion, from January to the end of May 2018, an increase of 10% over the same period last year. 2017.

The collector said that banks now have a greater ability to lend money, which reveals that banks got 1.8 billion pounds of the device to lend on the total amount of £ 2.4 billion is the amount of funding provided since the beginning. 2018 until the end of May of the same year and the rest of the funding was granted as direct loans from the machine.

On the other hand, we discussed the bill by presenting it to all departments, and we communicate with everyone to propose a law complementary to other laws and not contrary to the law. 39, one of these laws. Laws "The Ministry of Finance has requested amendments on a number of points, including tax incentives, and the ministry reserves some of the incentives to transform the informal sector of the formal sector, but accepts incentives for New projects."

Once the new Small Projects Act is pbaded, the funding definitions and their fees will rise to LE 30 and LE 40 million to fund the medium project, depending on the nature of the activity, what 39 whether commercial, service or industrial. Expanding work with donors

Jameh explained that the agency will fund young people wishing to work in projects in the administrative capital where there are places, including food projects "Foot Court" in addition to projects. craft and waste recycling. , Including banks, and the device can participate through one of the parties that deal with them. Jamea revealed that his agency works with microfinance companies such as "Rural, Tasheil and Tatweer", as well as with financial leasing, and about 70% of the $ 15 million leasing portfolio has been exhausted .