Egypt’s Mashroak Program Sets to Champion Youth Entrepreneurship

The Ministry of Local Development outlined a new action plan for Mashroak (your business) program from 2024/25 to 2026/27 to support youth entrepreneurs and provide them with easy loans to start their own businesses and support the national economy. According to the Minister of Local Development, Manal Awad, the ministry aims to empower the economy and support small and micro enterprises by financing over 6,500 projects. The Mashroak program was launched in 2015 to finance small businesses. Operated in collaboration with the Ministry of Youth and Sports and six banks, the National Bank of Egypt, Banque Misr (Bank of Egypt), Banque du Caire (Bank of Cairo), the Housing and Development Bank (HDB), the Egyptian Agricultural Bank (EAB), and Bank of Alexandria (AlexBank), the project is planned to continue until 2030. Mashroak focuses on financing micro, small, and medium enterprises to create job opportunities for youth through a national initiative for local and community development; it also targets micro-projects, designed to generate employment for both young people and women, via the local development fund administered by the Ministry. The launch of small businesses across Egypt holds the potential to transform local…

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