The Egyptian Agricultural Bank has launched an initiative to finance projects in the sector of livestock within the Central Bank of Egypt’s (CBE) initiative to support small and medium enterprises (SMEs), according to El Sayed El Kosayer, head of the bank. “We aim to finance the purchasing of one million livestock in addition to milking equipment, refrigerated transport, and the establishment of feed factories,” El Kosayer said. El Kosayer stressed that his bank hopes the initiative achieves a leap in the production of dairy and red meat in Egypt. El Kosayer said that the bank aims to finance the clients of the national project for cultivating 1.5 million acres. The veal meat project was also revived, and nearly EGP 100m was allocated for it, which is expected to reach EGP 300m later.

Source: Daily News Egypt June 04, 2017 08:26 UTC