Latest news with #SmallandMicroEnterprisesDevelopmentAgency
Saba Yemen
23-07-2025
- Business
- Saba Yemen
Field day for vegetable farmers in Hamdan, Sana'a
Sana'a - Saba: Fares Al-Kahali, Deputy Governor of Sana'a for Services Sector, emphasized the importance of encouraging and supporting farmers to enhance agricultural productivity, particularly in cereal crops. His remarks came during a field day for vegetable farmers in Hamdan District, organized by the Small and Micro Enterprises Development Agency (SMEDA) of the Social Fund for Development (SFD). The event was funded and supported by the International Development Association (IDA) of the World Bank in partnership with the United Nations Development Programme (UNDP), under the supervision of the Agricultural Sector in the province. Al-Kahali highlighted the need to develop and improve agricultural extension programs to educate farmers on best practices and modern techniques that help reduce costs and increase production rates. He praised the farmers' engagement with project officials and their cooperation in implementing various agricultural production programs. For his part, Ali Al-Qiri, head of the Agricultural Sector in the governorate, commended the farmers' interaction, stressing the Ministry of Agriculture, Fisheries, Water Resources, and local authorities' commitment to developing agricultural infrastructure by supporting farmers to achieve self-sufficiency. He also appreciated the support of the SFD, SMEDA, and all partners involved in implementing the project, which targets 60 farmers in the Wadi'ah area of Hamdan District. Fahd Attiya, Director of Hamdan District, noted the local authority and agricultural sector's dedication to farmers, in line with the directives of the Revolution Leader and the Supreme Political Council to support farmers and facilitate agricultural development. Meanwhile, Abdulrahman Al-Akhram, Cash-for-Work Program Officer at SFD, Bashir Al-Azib, Livelihood Improvement Supervisor, and Mansour Sanad, Head of the Project's Community Committee, explained that the "Integrated Development Interventions" project under the Second Additional Financing for the Social Protection Enhancement Project in Hamdan District aims to support 60 small-scale vegetable farmers in Breesh and Dharhan villages. The project provides technical guidance for vegetable production using modern agricultural techniques, including modern irrigation systems, agricultural inputs, and advanced methods, covering a quarter-hectare per farmer in areas known for irrigated vegetable farming from sustainable wells in Wadi'ah. The total project cost is $120,000, covering 15 hectares. Additionally, the project includes interventions such as rehabilitating ponds, dams, irrigation channels, and terraces in Dharhan and Al-Lakmah villages under the Cash-for-Work component, costing $255,000. The initiative seeks to contribute to food security, improve livelihoods, introduce modern agricultural inputs and techniques, reduce production and irrigation costs, minimize crop losses, increase vertical production per unit area, and enhance farmers' income. Officials praised the support of the agricultural sector and local authorities in Hamdan, as well as the farmers' cooperation in ensuring the project's success. Whatsapp Telegram Email Print more of (Local)
Daily News Egypt
22-06-2025
- Business
- Daily News Egypt
MSMEDA signs EGP 30m financing agreement with ‘Flind' to support SMEs
The Medium, Small and Micro Enterprises Development Agency (MSMEDA) has signed a new EGP 30m financing agreement with Flind, a licensed digital non-bank financial institution, to expand support for small and medium-sized enterprises (SMEs) across Egypt. The agreement is funded by the World Bank through its Entrepreneurship Support for Job Creation project. The signing was witnessed by MSMEDA CEO Bassel Rahmy, and formalized by Osama Bakry, Head of the Central SME Financing Sector at MSMEDA, and Ahmed Zaky, Managing Director of Flind. Also in attendance were Mohamed Medhat, Deputy CEO of MSMEDA, along with senior representatives from both organizations. Rahmy emphasized that MSMEDA remains committed to increasing access to finance for SMEs in all governorates, particularly in industrial and production sectors. He noted that the agency is working to diversify financing channels—either through direct lending or via partnerships with intermediaries—to facilitate easier, broader access for business owners across the country. 'The agreement with Flind aims to support the development and expansion of existing SMEs by providing funding for growth, asset renewal, and productivity enhancement. It also helps create sustainable job opportunities, particularly for youth, women, and recent graduates,' Rahmy said. The financing package will offer loans starting at EGP 100,000 and reaching up to EGP 5m, tailored to project requirements. Flind's Managing Director Ahmed Zaky expressed his enthusiasm for partnering with MSMEDA, highlighting the importance of using advanced digital tools to deliver fast, fair, and flexible financing to SMEs. He added that Flind is the first licensed digital non-bank financial institution by the Financial Regulatory Authority (FRA) dedicated to SME financing. Zaky stated that Flind aims to inject EGP 1bn into the SME sector during its first year of operations, focusing primarily on short-term loans. 'Through simplified digital procedures and an inclusive financing model, we're working to close the funding gap that still limits SME growth in Egypt,' he said. This partnership marks a significant step toward digitalizing SME finance and promoting economic development through targeted support for small businesses—key drivers of employment and production in Egypt.
