Egypt approves new financing for milk collection centres

The minister also approved the establishment of 10 new milk collection centres

  
An employee counts Egyptian pounds in a foreign exchange office in central Cairo, Egypt, November 3, 2016. Image used for illustrative purpose.

An employee counts Egyptian pounds in a foreign exchange office in central Cairo, Egypt, November 3, 2016. Image used for illustrative purpose.

REUTERS/Mohamed Abd El Ghany

Cairo - Mubasher: The Egyptian Minister of Agriculture, El-Sayed El-Qusair, approved the provision of EGP 41 million in loans through the Agricultural Bank of Egypt to develop and operate 15 milk collection centres in five governorates namely, Sohag, Gharbiya, Sharkia, Beheira, and Dameitta.

The minister also approved the establishment of 10 new milk collection centres affiliated to the ministry in governorates with the highest number of young livestock breeders, according to a statement on Wednesday.

Milk collection centres have been included in the Central Bank of Egypt's (CBE) initiative for financing small- and medium-sized enterprises (SMEs) with loans at a 5% interest rate.

The total value of financing provided to the national project for milk collection has reached EGP 305 million, the Head of Livestock and Poultry Development Sector at the Ministry of Agriculture, Tarek Soliman, said.

Source: Mubasher

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