6 December 2012

Egypt: LE Seven Billion in Loans for Strategic Crops

The Principal Bank for Development and Agricultural Credit decided to earmark LE 7 billion in loans for the farmers who grow staples such as cotton, wheat and corn at an interest of about 5%.

The Bank's Board Chairman Mohsen al-Batran said that loans will be paid for the farmers 48 hours after submitting an application for the loan.

Copyright © 2012 Egypt State Information Service. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.