Loan your project from local development with an interest of only 5%.. Know the steps

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The national project for community, human and local development “your project“It is one of the most important initiatives launched by the Ministry of Local Development to finance small projects for young people through soft loans with an interest rate not exceeding 5%.

“The Seventh Day” explains the following steps for obtaining a loan for your project:

1. Submitting an application for obtaining the required loan for the project unit in the governorate that includes the project idea

2. Submission of a feasibility study for the project, including the project owner, the number of labor and the initial cost

3. The papers are reviewed in each unit and the size of the loan to be granted to the young man is determined

4. After completing the required documents, the application will be delivered to the bank representative in the “Your Project” unit.

5. The bank starts reviewing the papers and informs the young man of approval or not.

6. The loan is delivered within two weeks of submitting the papers.

Khaled Qassem, Assistant Minister of Local Development and spokesperson for the ministry, confirmed that the national project for community development, “Your Project”, appeared in the second quarter of 2015, and the initiative’s goal is to create local economic development at the level of all Egypt’s governorates at the level of hamlets, villages and cities to advance the economy, pointing out The project contributed to the provision and employment of our people in the Egyptian governorates by financing small, medium and micro enterprises, providing job opportunities and establishing projects that contribute to increasing the supply, as well as eliminating slums and eliminating illegal immigration.

The Assistant Minister of Local Development and spokesperson for the ministry pointed out that your project initiative is present through 260 headquarters in 27 Egyptian governorates, and contributed to the establishment of 183 thousand projects and provided 1.2 million job opportunities at a cost of EGP 21.4 billion in funding.

Major General Mahmoud Shaarawy, Minister of Local Development, affirmed the ministry’s interest in supporting medium, small and micro enterprises through “Your Project”, because of its pivotal role in developing and advancing production in various fields, and in implementation of the national strategy and Egypt’s Vision 2030, as it aims to work to promote The important role of the medium, small and micro enterprises sector and entrepreneurship in achieving sustainable development in Egypt.





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