The US Embassy in Cairo celebrated on Wednesday cooperation with the Industry and Trade Ministry, concluding the four-year USAID program of small and medium-sized enterprises in Egypt.
The program, which will officially end in July 2015, aimed at raising the export capacity of small and medium-sized companies in line with international trade standards and to improve the efficiency of their energy consumption.
The USAID program officials announced during the celebration that the project increased the revenues of Egyptian companies to US$17 million.
Sherry P. Carlin, director of the USAID, said that the US government is committed to achieving a comprehensive and sustained economic development in Egypt, adding that promoting trade, especially among small and medium-sized companies, is essential to achieve economic growth.
According to the US Embassy, 130 people from different Egyptian public and private bodies, including representatives of the Industry and Trade Ministry, took part in the event.
The USAID plans other programs to back small and medium-sized companies in Egypt later in 2015 and 2016.
The USAID projects have provided 40,000 full-time job opportunities over the past 4 years and 20,000 part-time job opportunities. The USAID invested nearly $30 billion in Egypt since 1975.
Edited translation from Al-Masry Al-Youm
