The National Bank of Egypt (NBE) has signed a cooperation protocol with AgroFood—a company specialized in cotton trade and seed production—to finance farmers and small to medium-sized agricultural enterprises through a contract farming programme. The agreement aims to provide both financial and technical support to improve productivity, enhance crop quality, and ensure Egyptian agricultural products can compete in both local and international markets. As part of the partnership, AgroFood will offer farmers technical guidance and training in modern agricultural practices, including irrigation, cultivation, and harvesting techniques. This knowledge transfer is expected to raise the efficiency and sustainability of agricultural operations. This initiative aligns with NBE's broader strategy to strengthen its developmental role by delivering innovative financial solutions that support smallholder farmers. It will also help them access essential inputs, reduce operational costs, and expand the cultivation of strategic crops such as fruits and vegetables—thereby contributing to food security and increasing agricultural exports. The protocol was signed by Emad Farag, Head of NBE's Small and Medium Enterprises Group, and Saad Mohamed Saadawy, Managing Director of AgroFood. Farag emphasized that the partnership reinforces NBE's commitment to supporting Egypt's agricultural sector—seen as a cornerstone of economic development and food security. He noted that the protocol will help farmers access the resources and financing needed to improve productivity and meet export standards, in line with government efforts to boost agricultural exports. Saadawy added that the collaboration supports AgroFood's mission to empower farmers by offering high-quality seeds, agricultural consultations, and logistical support. He said the availability of bank financing will help farmers increase yields, strengthen domestic supply chains, and enhance Egypt's global agricultural competitiveness. Tamer Badr, Deputy General Manager for Programme Design and Local Partnerships at NBE, explained that the bank will offer tailored financial solutions to support contract farming. These include short- and medium-term loans covering seasonal expenses such as seeds, fertilizers, pesticides, agricultural machinery, and irrigation. The financing will be provided with flexible terms—often with repayment scheduled post-harvest—to ease financial pressure during the growing season.
