The Governor of Sharqia, Engineer Hazem El-Ashmony, announced the success of the national project for community, human, and local development known as "Your Project" in providing loans to youth amounting to 3 billion, 729 million, and 949 thousand EGP. These loans have been utilized to finance 22,150 diverse projects, contributing to the provision of 58,674 direct and indirect job opportunities for the residents of the governorate.
El-Ashmony emphasized that the "Your Project" program plays a vital role in addressing the unemployment issue, as it aims to provide a decent life for youth seeking real job opportunities. The governor also directed the need to facilitate loan granting procedures and overcome any obstacles that may face young people, with the goal of driving development in the governorate.
Event Details
In his statements, the project manager of "Your Project" in the governorate, Arabi Al-Shabrawy, clarified that among the most important projects implemented include fuel supply stations, feed factories, organic fertilizers, clothing, electrical industries, grain trade, ceramics, and furnishings. These projects reflect the diversity of the local economy and contribute to enhancing small and medium investments.
Al-Shabrawy pointed out that the project aims to support youth in various fields, reflecting the Egyptian government's commitment to providing a suitable environment for entrepreneurs. "Your Project" serves as an important platform for young people wishing to start their own projects, offering both financial and technical support.
Background & Context
This announcement comes at a time when Egypt is witnessing increased efforts to tackle unemployment challenges, especially among youth. According to official statistics, the unemployment rate in Egypt remains a significant challenge, necessitating effective strategies to support the labor market.
"Your Project" was established as part of the Egyptian government's vision to support economic and social development, aiming to enhance the spirit of initiative among youth. Since its launch, the program has achieved tangible results in improving living standards and providing job opportunities.
Impact & Consequences
This funding is expected to contribute to enhancing economic growth in Sharqia governorate, as it allows youth the opportunity to develop their skills and start their own projects. Additionally, the provision of job opportunities will help reduce rates of internal and external migration.
Moreover, the success of "Your Project" could serve as a model for other governorates, enhancing the government's ability to address economic and social challenges. This may also contribute to improving the government's image among citizens.
Regional Significance
The "Your Project" experience is considered a model to be emulated in the Arab region, where many countries face similar challenges in unemployment and economic development. Supporting small and medium enterprises is one of the effective strategies to enhance economic growth.
This initiative could inspire other countries in the region to adopt similar policies, thereby increasing job opportunities and reducing unemployment rates. In the current economic conditions, such projects are essential for achieving sustainable development.
In conclusion, "Your Project" represents a positive step towards achieving economic and social development in Egypt, reflecting the government's commitment to supporting youth and empowering them to build their future.