2019-03-18

A circular dated March 14, 2019 regarding financing agricultural cooperative societies within the Central Bank’s initiative for small companies and enterprises

In March 2019, the Governor and Chairman of the Board of the Central Bank of Egypt announced a low-cost loan program at an interest rate of 5% aimed at supporting small businesses and expanding its scope to include farming cooperatives. The initiative aims to contribute significantly to economic growth by boosting agricultural production and modernizing water irrigation systems. In response, the board approved various decisions, including allowing banks to finance farmers' cooperatives, both private and established groups, for transitioning to modern irrigation methods within the bank's initiatives for small businesses."

Egypt

Central Bank of Egypt

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