Prime Minister Mostafa Madbouly reaffirmed the important role of the Micro, Small, and Medium Enterprise Development Agency (MSMEDA) in driving investments and supporting entrepreneurs.
He stressed the importance of securing the agency’s financial sustainability to ensure resilience against economic challenges.
During a ministerial meeting, Madbouly discussed strategies to maintain the agency’s long-term financial independence while continuing to support small businesses and entrepreneurs.
MSMEDA CEO Basil Rahmi presented a roadmap for financial sustainability from 2025 to 2031, developed in coordination with international experts.
The plan includes diversifying funding sources, strengthening financial stability, and reducing reliance on government support and external financing.
Rahmi reported that MSMEDA’s partnerships with international donors have already created over 817,000 jobs through public works and community development programs.
Cooperation with the Ministry of Finance is also expanding support for SMEs in exports, government contracts, and economic empowerment programs. Future initiatives will fund food security projects, rural businesses under the “Decent Life” initiative, and programs to reduce illegal migration.
Since 2021, MSMEDA’s collaboration with the World Bank has financed over 140 startups, generating 36,000 jobs. Over the next five years, the agency aims to expand funding to attract investments and create 140,000 more jobs.
