Egypt's Ministry of Supply and Erada Finance Team Up to Fund Entrepreneurs in 'Carry On' Project

As part of the Ministry of Supply and Internal Trade's efforts to boost financial inclusion and expand partnerships with financing institutions to support small and micro-enterprises, Dr. Sherif Farouk, the Egyptian Minister of Supply and Internal Trade, held a meeting with officials from Erada Finance. The purpose was to discuss ways to collaborate on providing comprehensive financing solutions for beneficiaries of the national "Carry On" project. This initiative aims to empower them to start and expand their businesses, ensuring their long-term sustainability.

 Attending the meeting from Erada Finance were Amr Aboul Azm, Managing Director, CEO, and Vice Chairman of the Board; Karim Abuglouh, Head of Financial Sector; Ahmed Kamal, Head of Business Sector; Mohamed Serry, General Manager of Resource Development and Profit Maximization; Ahmed Essam, Head of Technology Sector; and Mohamed El-Agroudy, Manager of the Small and Medium Enterprises Sector.

 From the Ministry of Supply and Internal Trade, attendees included Ahmed Kamal, Assistant Minister for Projects and the Ministry's Official Spokesperson, and Sarah El-Azazy, Head of the Central Administration for Minister's Office Affairs.

 The meeting focused on discussing cooperation mechanisms to provide accessible financing programs, especially small loans. They also explored offering integrated financial solutions and services tailored to the national "Carry On" project. This will make it easier for beneficiaries to get the funding they need to start, develop, or expand their businesses, ultimately boosting operational efficiency and enhancing their chances of success and sustainability.

 Both parties also talked about creating flexible financing programs that match the needs of business owners and project beneficiaries. This would support the Ministry's plans to expand the "Carry On" model nationwide and encourage more young people and entrepreneurs to join.

 Dr. Sherif Farouk emphasized that the Ministry of Supply and Internal Trade is building a comprehensive system of partnerships with financing institutions and the banking sector. The goal is to provide various forms of financial and technical support to beneficiaries of the national "Carry On" project. This will empower young people and entrepreneurs, improve the efficiency of small and micro-enterprises, achieve the state's economic development goals, increase financial inclusion rates, and create sustainable job opportunities.

 For their part, Erada Finance officials welcomed the collaboration with the Ministry of Supply and Internal Trade. They confirmed the company's readiness to offer flexible and innovative financing solutions tailored to the needs of the "Carry On" project beneficiaries. This will help them easily access funding, support their business growth, and boost the project's success in achieving its economic and developmental goals.