Egypt lending to agricultural sector drops to EGP 16.1b in ’23

Egypt provided 16.1 billion Egyptian pounds in investment loans to farmers and agricultural projects in 2022/2023, a decrease from the previous year’s 22.4 billion pounds and slightly higher than the 2020/2021 figure of 15.1 billion pounds.

Short-term loans amounted to 11.1 billion pounds in 2022/2023, representing an increase due to the provision of new loans for transport, rural development, and other purposes, as per a report released by the CAPMAS.

Medium-term loans decreased to 2.0 billion pounds in 2022/2023 from 8.5 billion in 2021/2022, primarily due to a significant decline in loans for livestock, according to the report.

Long-term loans also fell to 3.0 billion pounds in 2022/2023 from 4.0 billion in the previous year, mainly attributed to a decrease in livestock loans and the absence of loans secured by deposits for various purposes.

Attribution: CAPMAS report

Subediting: M. S. Salama