We will start with yellow maize to provide amounts that would otherwise be imported and would be worth $1.6bn and launch from governorates of Upper Egypt, says Elkosayer
The bank coordinates with the CBE, Egyptian Countryside Development Company, NBE, and Banque Misr to launch special products for beneficiaries of 1.5m acre reclamation project
PBDAC will continue its role to serve Egyptian peasants with greater diversification of its products
We aim to finance participants in the 1.5m acres project to support the state plan to increase the agricultural area, said Elkosayer
We will immediately begin to communicate with the World Bank to implement the restructuring of the bank, says Elkosayer
Depletion of foreign exchange resources is a major problem limiting the economy, everybody must support the state through this crisis, says Elkosayer
We are awaiting the final vote; this move would restore the bank’s real role in serving Egyptian farmers, says bank chairperson Elkosayer
The loan will finance agricultural industrialisation projects and greenhouses at low cost, says Elkosayer
He told Daily News Egypt that there are some six million farmers in Egypt and another four million people serving as temporary agricultural labour, resulting in a total of 10 million people.
The new law does not exclude the bank from Ministry of Agriculture supervision
We seek to change the misconception that we simply offer fertiliser to farmers; PBDAC is a comprehensive bank providing all services to farmers, says El-Qosayer
The challenges include resolving EGP 4bn worth of non-performing debts, raising efficiency of assets worth more than EGP 2bn, and diversifying products
El-Kosayer to hold first meeting in the PBDAC on Wednesday; controversy surrounds the presidency of IDBE
Al-Qussair succeeds Atteya Salem, the former chairman of PBDAC
