By: Eslam Fadl
Cairo – Mubasher: The Agricultural Bank of Egypt (ABE) will invest EGP 150 million in the veal project until mid-November, the bank’s vice president said.
The lender’s transactions with Misr El Kheir Company stood at EGP 310 million, Tamer Gomaa told Mubasher.
This amount has been pumped for around 740 clients to feed 14,740 livestock, Gomaa added.
These financings have an interest rate at 5% within the framework of the Central Bank of Egypt’s (CBE) initiative to fund the small- and medium-sized enterprises (SMEs), he highlighted.
The bank has invested around EGP 500 million in the veal project at the end of the previous fiscal year for nearly 4,850 clients to feed 37,750 livestock, he indicated.
Translated by: Mai Ezz El-Din
