National Bank pumps 1.2 billion pounds to 7400 livestock development projects

National Bank pumps 1.2 billion pounds to 7400 livestock development projects

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04/15 21:14

Books – Dr. Mohamed Adel: Dr. Mona Mehrez, Deputy Minister of Agriculture for Animal, Fish and Poultry Affairs, stressed the importance of concerted efforts of all state institutions to reduce the gap between local production and consumption. The statistics showed that the self-sufficiency of the livestock sector of red meat was about 30% and about 90% Locally, pointing out that a field survey was conducted over the last year for the farms of animal production in Egypt, the number of 29 thousand farms, showing that the capacity absorbs only 25% of the available space, and 75% of them free. This came during the signing of a cooperation protocol for the development and development of livestock projects with the National Bank of Egypt, attended by Yahya Abul-Fattouh, Deputy Chairman of the National Bank of Egypt and Mahsin Mahjoub, treasurer and board member of Misr Al-Khair Foundation. The Cooperation Protocol aims at providing a complete package of financial services and technical support for the development of livestock development projects which will help in establishing new farms or exploiting the existing and untapped capacities of the existing farms by providing the necessary funding for farm inputs from livestock with high genetic characteristics, Raising the capacity of these projects and increasing productivity, in addition to training and technical support throughout the life of the project, whether in terms of nutrition or fortifications and periodic follow-up of the situation Dr. Muna Mehrez said that the protocol comes as a continuation of the continuous cooperation and coordination between the ministry, the company and the National Bank of Egypt and extension of the cooperation protocol signed on December 28, 2017 between the ministry and the bank to finance the projects of poultry, fish and animal wealth within the framework of the ministry’s concern to implement the government plan for support and development Animal, fish and poultry resources in Egypt to provide a multi-source protein for the Egyptian citizen at affordable prices and high quality, stressing that the protocol will fill the spaces with these farms and provide employment opportunities for young people by providing projects within them For farms, that the Foundation of Egypt good will train these young people. He added that the protocol comes within the framework of activating the strategy of the National Bank of Egypt to support and develop small and medium-sized enterprises, in particular the agricultural activity and livestock development. It aims to provide an integrated system of financial and technical solutions for each of its parties, The new and existing livestock resources are technically approved by the Ministry of Agriculture and the Land of Good Company

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