The committee is eyeing bigger contribution by SMEs to the national economy in order to reach 80 to 90 percent as in some major countries, Shafie said, noting that in Egypt it only stands at 20 percent.

Shafie was speaking during a meeting of the committee with the Egyptian Businessmen’s Association (EBA) and in the presence of chairperson of the Egyptian Microfinance Federation (EMF) Dr Mona Zulficar to probe means of boosting joint cooperation in terms of financing small, medium and micro-sized ventures.