Egypt’s Rural Development in talks with CBE on funding 1.5M feddans project

The Egyptian Rural Development Company is in talks with state’s Central Bank (CBE) and a number of banks over financing small investors and farmers among the 1.5 Million Feddans project.

During his speech at the second Egypt Mega Projects conference on Tuesday, Atter Hannoura -company’s chairman- announced that the firm started issuing 500,000 feddans among project’s first phase.

The Egyptian Rural Development Company is about to sign contracts with one of global organisiations for agricultural planning in London to design an inclusive plan for the project, the head noted.

Hannoura added that the company would reach an agreement with Emirate’s International Center for Biosaline Agriculture (ICBA) over establishing research centre for farmers in different areas of the project.