Egypt – Supporting small projects and boosting microinsurance
Wednesday, 03 08 2017, Category: Insurance and Reinsurance, Country: Egypt
Investment, industrial and insurance experts addressed the government about the necessity of supporting the financing of small projects with insurance coverage since the concerned persons are the youths who do not have resources to reinvest in projects affected by crises and problems if there is no insurance coverage to indemnify them. At the same time these persons are unable to settle large premiums.
11 million micro projects need financing. Mr. Mohamed Mustafa former official of the Ministry of Trade and Industry said that most countries in the world achieved great economic realizations based on small and medium-sized projects, which represent 90% of businesses worldwide and represent 50% of the global gross domestic product. Therefore, Egypt has no other solution in order to heal its economy in all its territory.
Source: Veto Gate