Egypt Farm Bank to Expand in Financing Agricultural Development Firms

Egypt’s main agricultural bank – the Principal Bank for Development and Agriculture Credit (PBDAC) plans to expand its corporate financing activities, notably for firms working in the agricultural development sector.

According to chairman Attia Salem, PBDAC is currently conducting studies on around 100 companies working in the Egyptian agricultural development sector as a prelude to providing the necessary finances.

In this respect, PBDAC’s board plans to pump finances ranging between EGP 500 million and EGP one billion in favour of agricultural development companies, the official noted.