SME Development Authority taps EUR 15 mn grant for infrastructure projects

The SME Development Authority has signed contracts with six governorates for infrastructure projects that will be financed through a two-year EUR 15 mn European Investment Bank grant signed last year, the authority’s head of human and social development sector, Mohamed Massoud, told MENA news agency. The project aims to improve the business environment for SMEs, and will be implemented in Assiut, Menoufia, Alexandria, Port Said, Sharqia and Giza at the beginning of next year. The rest of the EUR 15 mn grant will be disbursed in 2021, Massoud said.