The UK is committed to paying 1 million Pound Sterling over three years from 2017 to 2020 to support the new and existing projects in Egypt.

In a press statement, the British embassy said the subsidy shows Britain's confidence in Egypt's projects.

Last week, UK Ambassador to Egypt John Casson spoke at the RiseUp Summit 2016 about the importance of small enterprises in the Middle East region, the embassy said.

Such projects will help create job opportunities for Egyptians, he added.