A portion of the loan will be allocated to animal breeding and poultry farming - skeeze via Pixabay
CAIRO – 13 June 2017: The Ministry of Agriculture approved on Monday granting 478 loans in the value of LE 378.5 million ($20 million) to 14.151 beneficiaries within agricultural development initiatives, according to El Mal newspaper.
The decision was made by the board of trustees of Agricultural Development Program chaired by the Minister of Agriculture Abdel Moneim el-Banna.
Beneficiaries are small farmers, breeders, and agricultural cooperatives.
Twenty-eight loans in the value of LE 152 million will be allocated to projects of animal and dairy production, and veal calves breeding, while two loans summing up to LE 24 million will be dedicated to poultry projects.
Sixteen loans worth LE 80 million will be allocated to horticulture projects, according to Al Mal newspaper.
The board of trustees also approved allocating LE 88 million to projects of agro-production, LE 16 million to agricultural marketing, and LE 24 million to post-harvest activities.
LE 2 million will be granted to cultivating medical plants, and plants used for perfumes as well as in honey production. LE 1.5 million will be devoted to breeding, veterinary services, and supporting veterinarians, according to Akhbarkom.net.
Banna stated that program contributed before in financing similar projects aiming at increasing national agricultural production and investment.
The minister asserted that these loans are available for individuals, associations, and companies operating with different development programs in sectors of plant, livestock, food processing, irrigation systems development and production input supply, according to Akhbarkom.net.