Egypt's current account gap narrows, but overall BoP records deficit    Egypt's PM reviews debt reduction strategy, eyes more private investment    Egypt hosts international neurosurgery conference to drive medical innovation    Egypt, India discuss expanding industrial, investment partnerships    World Bank proposes Egypt join new global health initiative    Egypt's EDA discusses Johnson & Johnson's plans to expand investment in local pharmaceutical sector    I won't trade my identity to please market: Douzi    Sisi sends letter to Nigerian president affirming strategic ties    Egypt welcomes 25-nation statement urging end to Gaza war    Egypt, Senegal sign pharma MoU to unify regulatory standards    Egyptian pound ticks down in early Tuesday trading    Famine kills more Gaza children as Israel tightens siege amid global outrage    Kuwait's Crown Prince, Egyptian minister discuss strengthening cooperation    Egyptian Drug Authority discusses plans for joint pharmaceutical plant in Zambia    Egypt's FM seeks deeper economic, security ties on five-nation West Africa tour    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt foils terrorist plot, kills two militants linked to Hasm group    Egypt, Somalia discuss closer environmental cooperation    Egypt exports 175K tons of food in one week    Giza Pyramids' interior lighting updated with new LED system    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, Uruguay eager to expand trade across key sectors    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



ABE to increase funding for farmers: Agriculture Minister
Published in Daily News Egypt on 12 - 09 - 2023

Minister of Agriculture and Land Reclamation, Elsayed Elkosayer, has announced that the Agricultural Bank of Egypt (ABE) will provide more financing for farmers and crops, with a total of about EGP 7bn per year, supported by the state with EGP 500m annually.
Elkosayer said, on the occasion of Farmer's Day, that the ABE will also help farmers and peasants who have outstanding debts by postponing their installments. He added that about 330,000 farmers benefited from this initiative, with a total debt of EGP 9bn.
The ABE offers various financing programs for individuals and companies in the agricultural and livestock sector, such as loans for crops, livestock, veal, dairy collection centers, agricultural mechanization, and others. The bank also finances land reclamation, greenhouse cultivation, solar energy, and agro-based industries. The bank aims to encourage production and development in the agricultural sector and support the state's sustainable development strategy.
The bank also plays a key role in rural development and participates in the presidential initiative "Decent Life" to improve the living conditions of the villagers. The bank supports micro-enterprises and empowers women and youth to create job opportunities. The bank also develops its branch network in the countryside to offer better banking and financing services.
Elkosayer stated that the funding for the national veal project reached EGP 8bn for 43,000 beneficiaries, with a total of 500,000 heads of livestock.
He also said that the "Falah Card" system has been completed in cooperation with the ABE in all governorates of Egypt. The card helps farmers access their subsidies and benefits easily. The card has been upgraded to a Meeza card, which facilitates financial inclusion. He added that if the card is lost or damaged, it can be replaced within 15 days from the nearest ABE branch.


Clic here to read the story from its source.