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 bank aims to encourage production and development in the agricultural sector and support the state’s sustainable development strategy. He also said that the “Falah Card” system has been completed in cooperation with the ABE in all governorates of Egypt.
