Agricultural Credit Bank In Talks With SFD Over EGP 100 Mln Finance Agreement

The Principal Bank for Development and Agricultural Credit currently conducts negotiations with the Social Fund for Development (SFD) to sign EGP 100 million agreement in the upcoming period.

A source at SFD told Amwal Al Ghad that the finance will go for livestock and agricultural production projects, adding that SFD had earlier reached an agreement with the bank to sign the definitive loan agreement last month, but reshuffling the bank’s board of directors delayed signing the agreement.

SFD met with the bank’s deputy chairman Tarek Helmy last week to discuss the conditions of the contact.

It is worth mentioning that Principal Bank for Development and Agricultural Credit signed a protocol of cooperation with Misr El Kheir Foundation to develop livestock projects with EGP 500 million as a first stage of the protocol.