Agricultural Bank of Egypt explores development opportunities in Minya

Hossam Mounir
3 Min Read

Agricultural Bank of Egypt (ABE) Chairperson Alaa Farouk, accompanied by his deputies Samy Abdel Sadek and Mohamed Ehab as well as other bank officials, held an expanded meeting with Minya Governor Osama Al-Qadi.

During the meeting, the two sides discussed strengthening aspects of joint cooperation between the ABE and Minya governorate. The cooperation aims to support agricultural and community development efforts, whilst also reviewing the bank’s initiatives and financing programmes for agricultural, livestock, and poultry production projects, as well as related activities.

The cooperation also aims to finance modern irrigation systems and the use of solar energy in agricultural projects, in line with the state’s interest in achieving sustainable development.

Farouk reviewed opportunities for financing small and micro enterprises, to improve the income level of the governorate’s citizens, as well as open up new horizons to create job opportunities.

Additionally to this, the governor reviewed training opportunities for the governorate’s youth that will help improve their living standards. It will also help maximise the bank’s contribution to achieving economic and social development across Minya governorate.

During the meeting, it was agreed to finance a number of projects and micro-activities in Minya Governorate villages.

It was also agreed to provide funding for farmers and youth projects in villages where young graduates reside, and the model farm for livestock in Samalut town.

This funding would go towards opening up outlets for the governorate’s youth to sell agricultural products. It will also allow for cooperation in moving street vendors from informal markets to formal settings, and to discuss the replacement of public transportation vehicles.

Farouk confirmed that his meeting with the Minya Governor comes as part of the bank’s keenness to maximise its contribution to achieving economic and social development within the governorate.

Farouk also held an expanded meeting with a large number of project owners, investors, and clients in Minya. This included a number of investors in the 1.5 million feddan land reclamation project in the western Minya region.

The ABE Chairperson affirmed the bank’s full readiness to cooperate with investors and producers who own agricultural projects and agricultural industrialisation projects in these areas. It will also provide the necessary financing for the development of their projects.

During his visit to Minya, Farouk met with employees and managers of the bank’s branches in Minya, which include 113 branches and village banks.

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