The Micro, Small and Medium Enterprise Development Agency (MSMEDA) and the KfW Development Bank have signed an agreement to provide €12m to support micro enterprises that operate in the field of renewable energy and have a positive impact on climate.
The agreement was signed by MSMEDA’s CEO, Bassel Rahmy, and KfW’s Director for North Africa, Daniela Beckmann. The agreement aims to offer financial and technical assistance to micro enterprises that use clean energy sources, such as solar-powered irrigation pumps, and comply with international environmental standards.
Rahmy said that the agreement aligns with MSMEDA’s plans to contribute to the state’s efforts to reduce pollution, expand the use of clean energy, and stimulate entrepreneurs to adopt optimal alternatives to traditional energy. He also praised the role of the Ministry of International Cooperation in coordinating with international donors and promoting the role of micro and small enterprises in supporting the national economy.
Rahmy added that KfW is a major donor agency that supports MSMEDA in developing micro and small enterprises, and that their cooperation has resulted in creating thousands of sustainable jobs. He said that the new agreement marks a quantum leap in their cooperation, as it supports the green economy and provides better access to diversified services for entrepreneurs.
Beckmann expressed her appreciation for MSMEDA’s activities and her willingness to enhance their future cooperation in supporting the private sector and stimulating micro and small enterprises that use renewable energy sources and abide by environmental regulations.
