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July 18, 2024
PI Global Investments

MSMEDA invests EGP 201.3m in Fayoum’s infrastructure

Basil Rahmy, CEO of the Micro, Small, and Medium Enterprise Development Agency (MSMEDA), welcomed Ahmed Al-Ansari, Governor of Fayoum, at the agency’s Cairo headquarters. They reviewed Fayoum’s developmental needs, focusing on youth employment and the expansion of support for SMEs within the governorate.

A work agreement was signed during the meeting, initiating a project to combat the root causes of irregular migration, funded by an EU grant of EGP 3m.

Rahmy emphasized that this initiative aligns with MSMEDA’s commitment to augment government efforts in delivering essential services to the most needy communities, particularly in Upper Egypt. The goal is to foster collaboration with relevant state institutions and donors to execute comprehensive development programs that enhance citizens’ quality of life.

Under the new contract, the 6th of October School for Basic Education in Heshmat, Atsa Center, Tatun Village, Fayoum governorate, will undergo restoration and maintenance. The project, estimated to cost EGP 3m, is expected to generate 4,600 workdays for irregular workers and benefit approximately 55,000 citizens.

Governor Al-Ansari affirmed Fayoum’s commitment to partnering with MSMEDA and international donors to secure funding for initiatives addressing irregular migration. The focus is on assessing and fulfilling the needs of youth in areas where this issue is prevalent.

Al-Ansari also noted that MSMEDA had previously executed 27 infrastructure development contracts in the governorate, amounting to EGP 201.3m. These funds were allocated to enhancing drinking water and sanitation networks, maintaining public facilities, and other projects, creating nearly 2.8 million workdays for irregular workers.

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