The European Union Delegation to Egypt

Support to Agricultural SME's Project (SASME)

18/04/2018 - 12:36
Public finance and macroeconomy

EU Contribution: € 21.5 million grant

Project approach: € 52 million

Location: Egypt

Partners: Agence Francaise de Development (AFD)

 

Description:

The EU-funded project seeks to support the efforts of Egyptian Authorities to create job opportunities and foster income generation in rural areas and develop the agricultural sector. The EU grant is combined with Agence Francaise de Development (AFD) parallel financing worth € 30 million, leading the entire support package to about € 52 million. The project is implemented in close cooperation with the Ministry of Agriculture and Land Reclamation.

 

  • The project builds around four components:
    • a contribution to SASME Credit fund, which provides subsidized credit to agricultural SMEs;

    • a credit guarantee scheme,to provide guarantees to bank loans and make it easier for small enterprises and cooperatives to get credit;

    • technical assistance to financial intermediaries, so they can improve their services to the agricultural sector;

    • technical assistance to support value chains in dairy and aquaculture, sectors identified with a particularly high potential for development and productivity gains

       

Objectives:

  • The main objective of the project is to support SMEs in the agricultural sector in Egypt, through improved access to finance and development of two value chains.

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