Bank of Alexandria to finance the development of livestock sector in Egypt
Bank of Alexandria will give financial support for the small and medium enterprises (SME) in Egypt's agricultural sector as it signed cooperation protocol with the Ministry of Agriculture and Land Reclamation on this line.
The protocol was signed by Mona Mehrez, deputy minister of agriculture for livestock, fish, and poultry affairs, representing the ministry, and Dante Campioni, the managing director and CEO of the Bank of Alexandria (AlexBank), informs Salaam Gateway.
“The ministry is targeting sustainable development in all sectors, whether livestock, fisheries, or poultry, through supporting breeders with imported cattle characterised by high genetic value in milk and meat production, as well as entering into manufacturing phases with equipment for manufacturing cheese, in addition to all farm requirements,” Mehrez said.
The ministry also aims to support and transform the sectors of poultry and fish, to be semi-closed or closed to provide biosecurity, sustainability, and social safety.
The farmers will be encouraged to import breeds with desirable genetic traits, to increase quality and productivity both in milk and meat production. The sector is already benefiting from funds delivered by Central Bank of Egypt but Alex Bank wants a further expanding cooperation with the ministry, in order to develop additional funding programmes, reaching a larger segment of beneficiaries, with the aim of covering all segments operating in the field, eventually consolidating and developing their activities.
(Photo source: New Straits Times)
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