Egypt central bank to provide additional EGP 1bn to finance livestock project
Published 30 Mar,2021 via Daily News Egypt - The Central Bank of Egypt (CBE) has approved an additional EGP 1bn to finance the national veal production project, according to Alaa Farouk, Chairperson of the Agricultural Bank of Egypt (ABE).
The additional financing comes within the CBE’s initiative to support and finance individuals and small projects with a 5% annual declining interest. As a result, it brings the size of the loan portfolio that the ABE will grant to the beneficiaries of the project up to EGP 3bn.
Farouk said that increasing the size of the lending portfolio for the project will provide additional financing for about 7,000 customers to buy and feed about 68,000 livestock.
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Daily News Egypt