Minister of Investment and International Cooperation Sahar Nasr and the executive director of Tahya Misr Fund, Mohamed El Ashmawy, looked into establishing specialised investment funds, such as a fund to support the production of pharmaceuticals and another to support agricultural industries.
According to a press release issued by the ministry on Saturday, the two sides have agreed on the importance of increasing the resources of Tahya Misr. The minister has encouraged investors and businesspeople to support the fund as part of their social responsibility and support to the Egyptian economy.
Ashmawy said that “Egypt Company for Financial Leasing”, where Tahya Misr has 39% of shares, has started its work with the aim of supporting small and medium enterprises (SMEs) and reduce the burden on young people to finance their projects.
Banque Misr has 51% shares in the company, and Misr Insurance Company has 10%.
Nasr has stressed the importance of holding regular meetings for the fund on a monthly basis in coordination with members of the executive committee.