MSMEDA Releases a Booklet on Eco-Friendly Projects It Finances

Thursday, the 10th of November 2022, on the sidelines of the 27th session of the Conference of Parties of the United Nations Framework Convention on Climate Change Egypt is currently hosting in the city of Sharm El Sheikh, Micro, Small and Medium Enterprise Development Agency (MSMEDA) has released a booklet under the title: "Steps for Green Transition."

This booklet tackles MSMEDA's strategic orientations to protect the environment, stimulate eco-friendly enterprises and grant finance and technical support to young men and women willing to engage with environmental preservation projects.

In cooperation with the United Nations Development Program (UNDP), MSMEDA has also launched an English version of the booklet to market it during the effectiveness of COP 27 among its guests representing world governments, civil society organizations, international environmental protection associations, economic entities and international financial institutions. The purpose is to highlight the role MSMEDA plays in fostering economic development and preserving natural resources and the environment. Another purpose is to cast light on its on-going partnership with UNDP, particularly, on areas of supporting and financing such economic activities that conform to international environmental criteria and align with sustainable development goals (SDGs).

The booklet begins with quotations from H.E. President of Egypt Abdel Fattah El Sisi during the different global fora and deal with the vision of Egypt towards climate issues, current environmental challenges and ways to speed up the attainment of sustainable development goals. It also reviews MSMEDA's action plans on supporting eco-friendly projects with examples of these projects that MSMEDA actually finances in cooperation with its international partners. They include generation of biogas units, substitution of old charcoal furnaces with developed and eco-friendly ones that depend on clean energy and reduce harmful emissions, generation of electricity through solar energy, projects of the Presidential Initiative to Convert Vehicles to Natural Gas/Fuel, alongside its activities to protect banks of the River Nile.

MSMEDA is, therefore, keen on integrating the environmental dimension into all activities and programs it implements and partnering with governmental authorities and civil society organizations to launch environmental protection programs and create an investment climate favorable to the growth of micro, small and medium enterprises.

Within this framework, MSMEDA delivers an integrated package of financial and technical services for youth to help them establish eco-friendly projects, complemented with a bundle of non-financial services. They include without limitation, licensing, assistance in obtaining the commercial register, the enterprise ID card, tax card, and the enterprise classification/privilege certificates according to the new Law on the Development of MSMEs 152/2020, together with one-stop-shop services (OSS). MSMEDA, in addition, encourages youth to set up environment-friendly projects in innovative domains through presenting feasibility studies to actionable project ideas and securing funds necessary to the initiation of such projects.