An initiative to finance small projects

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An initiative to finance small projects

Nevin Jameh, Minister of Trade and Industry and CEO of the Enterprise Development Agency said that the initiative aims to support all small, affected projects, especially industrial and labor-intensive, through an exceptional loan for a short period of time up to a maximum of one year.

She added that the initiative aims to ensure the continuity of projects and help provide the necessary liquidity to finance operating and production expenses in order to overcome this crisis, and in implementation of the directives of the state in helping small projects to face the economic consequences of the emergence of the "Corona" virus.

She pointed out that the initiative includes all small projects, whether funded by the agency or from any other sources.

Jameh explained that the maximum amount of this loan amounts to one million pounds, and it will be provided to the owners of small projects on terms and easy interest, depending on the nature of the economic activity for each project.

She said that the owners of small projects who want to take advantage of this initiative should contact the agency's customer service or visit the agency's branches in all governorates of the Republic.

She added that this exceptional financing initiative comes to help the owners of small projects to face the crisis and its negative effects which were in the low liquidity and the difficulty in providing workers wages or reimbursement of operating expenses in addition to the multiple financial obligations for these projects, which requires the provision of adequate cash liquidity so that the projects do not stop and cause a loss Greater for owners and the national economy.

She asked the owners of small projects to continue operating their projects and raise their productivity as much as possible to maintain their services or production that they provide to citizens and the skilled workers that employ them.