Min. of agriculture approves LE 230M for development projects

CAIRO – 13 December 2017: Minister of Agriculture Abdul Moneim el-Banna approved 182 loans worth of LE 230, 812 million to finance agricultural development projects for 4,333 beneficiaries, including the small farmers.

Banna pointed out that 10 loans worth of LE 76 million were approved to be forked out on the development of the irrigation and field drainage projects, poultry and fish farming projects and the dairy production. Five loans worth of LE 36 million will be invested in providing good agricultural practices inputs to boost production as well as post-harvest handling technologies.

As many as 77 loans worth of LE 30.6 million were also announced to be invested in boosting agricultural marketing practices which will help farmers improve their income. This comes as part of the ministry's recently-launched initiative to support the livestock sector and contribute to the reduction of red meat prices in the markets.

The ministry also ordained the disbursement of 50 loans to support small and medium-sized agricultural projects to promote the medicinal and aromatic plants, with a total cost of LE 81, 985 million, targeting close to 4,200 beneficiaries from various governorates.

Also, 11 loans worth of LE 30.3 million are allocated for the development of the veterinary services project, while as many as 29 loans are splurged on the purchase of feedstuff for buffalos.