Italian and US donations for Egyptian small business
Egypt, Economics, 7/16/1999

The Egyptian Ministry of International Cooperation agreed with the U.S Agency for International Development and the Egyptian company for guaranteeing small projects on financing a project to develop small business projects all over Egypt with a value of $85 million.

The ministry also agreed on an Italian donation of $2.5 million to develop small and medium-sized projects in Giza governorate.

Ahmed Abd El-Salam, chairman of board of directors of the Egyptian company for guaranteeing small projects, said, "Identifying the small and intermediate projects was determined, and our investments will be no less than 40,000 pounds and will no exceed 7 million pounds after excluding the value of the lands and buildings (donated)," adding that the company is comprised of contributions of nine Egyptian banks that presented one billion pounds to support small projects in the Egyptian governorates.

Previous Stories:
  UNIDO supports the social development project in Egypt   (7/10/1999)
  Financial negotiations start between US export bank, Egyptian corporations   (7/1/1999)
  200 Italian businessmen to discuss enhancing medium, small Egyptian projects   (5/14/1999)
  Egypt to receive Japanese loan for small projects worth $240 million   (4/15/1999)

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