Egyptian Banks Finance 49% Of Egyptian-Qatari Poultry Joint Ventures

Abdel Aziz El-Sayed, head of the Poultry Division at the Egyptian Chambers of Commerce, said a number of banks have submitted offers to finance up to 49% of the Egyptian-Qatari poultry joint ventures slated to be established in Sinai.

The Cairo Chamber of Commerce contributes 2% to the projects. Accordingly, Egypt’s share rose to 51%, which gives the country the right to manage these ventures, he affirmed.

El-Sayed expected the poultry sector in Egypt to boom after establishing these joint ventures with Qatar as the sector has long suffered a setback due to the increase in imports of Turkish poultry.