Basel Rahmy, CEO of Egypt’s Micro, Small, and Medium Enterprises Development Agency (MSMEDA), announced the launch of a new financing programme in collaboration with the United Nations Industrial Development Organization (UNIDO). This initiative aims to support Egyptian companies working in the solar energy sector. Rahmy highlighted that the programme aligns with MSMEDA’s commitment to promoting investment in renewable energy, strengthening the role of the private sector in achieving sustainable development goals and making solar energy products available at competitive prices for agricultural, industrial, and productive projects. These projects, which can adopt solar energy as a primary source, are expected to enhance environmental friendliness while helping reduce emissions.
This programme is part of MSMEDA’s ongoing efforts to support sustainable practices, foster an enabling environment for the growth of new small, micro, and medium-sized enterprises, and upgrade existing businesses, thereby creating more job opportunities. It also supports the state’s directives to rely on clean energy sources and helps businesses adopt eco-friendly, cost-effective energy options to fuel their growth and expansion.
Rahmy emphasized that the partnership with UNIDO reflects MSMEDA’s dedication to leveraging international expertise in renewable energy. UNIDO will provide technical and operational support for the programme, assist in capacity-building, and help develop solar energy-related policies. The programme offers a comprehensive package of financing, training, and consultancy services tailored for companies in this field, enabling them to scale their operations and improve competitiveness. Additionally, the programme aims to encourage more businesses to enter this promising sector, enhancing their capacity to deliver high-quality solar products at competitive prices within the Egyptian market.
Rahmy noted that the programme offers a range of financing options for companies in the solar sector, including working capital loans and machinery financing, both with flexible repayment terms. Under the programme, MSMEDA will provide financial support to companies specializing in the supply, installation, operation, and maintenance of solar panels. The maximum financing available is EGP 30m for small enterprises and EGP 60m for medium enterprises.
Rahmy invited small and medium enterprises involved in solar system installation, trade, supply, maintenance, and manufacturing across Egypt’s governorates to take advantage of this new financing opportunity by visiting one of MSMEDA’s branches nationwide. Through the programme, eligible companies can apply for loans that cover the full cost of solar system production and assembly. Rahmy added that the financing terms are designed to meet the specific needs of each company, with flexible repayment options and competitive interest rates.
