Princess Maxima: The Netherlands are ready to provide technical support and funding for sector projects

Dr. Youssef Boutros Ghali ,Minister of Finance and Chairman of the international monetary and financial Committee of the International Monetary Fund confirm that the Government support small projects and that as he is a finance minister sees the importance of such projects where small and medium projects have a large proportion of the employment of about 95% of the total labor force, As the development of small projects would be a driving force for the macro-economy and raise income levels and this trend is a crucial part of the Government's financial policy.

He noted during his meeting with Princess Maxima - which is currently visiting Egypt for the first time – that  the Egyptian government sought to attract the informal sector for integration into the formal economy to benefit from a package of facilities provided by the Government in this segment of the business.

From her side, the Princess Maxima confirmed that the  Dutch government is sought to provide funding and technical support for small-scale projects in Egypt, pointing to the importance of such projects in the social life, As most of these projects run by women to support their families, so the funding and the success of this project is of great importance, especially as it will benefit the society as a whole, Which come this during her meeting with Dr. Youssef Boutros Ghali, Minister of Finance, she demanded the cooperation of the IMF and World Bank to provide the necessary data on the magnitude of these projects and the labor which works in it, With interest also polls for such projects because such data will help the number of sound policies to finance small projects in different countries.

She commended the efforts of Egypt in supporting small projects emphasizing that a network of various funding mechanisms is important in the development of these projects to contribute a greater role in stimulating small projects and its development.

Princess expressed her readiness to cooperate with the Egyptian Ministry of Finance to develop new mechanisms for the development of micro- enterprises sector in Egypt, and removal of the obstacles and challenges they face, referring to the efforts of the Ministry of Finance in the numbers of regulations and legislation necessary to stimulate the micro-enterprise sector for integration into the formal economy, in the framework of the national strategy for the development of small projects in Egypt.

(Source: Ministry of Finance)