(MENAFN- Daily News Egypt) The Agriculture Bank of Egypt (ABE) is set to sign a cooperation protocol within two weeks with the Micro, Small, and Medium Enterprises Development Agency (MSMEs Development Agency) worth EGP 50m to finance projects for women.
Elsayed Elkosayer, chairperson of the bank, said that this will be the first project of its kind in the Egyptian banking sector, pointing out that women account for 30% of the size of the bank's small-scale loans.
The bank has recently launched the 'Bint Misr' project to finance working women, especially in the Delta and Upper Egypt governorates, in order to help women entrepreneurs with very favourable terms and conditions. The maximum funding amounts to EGP 10,000.
In a related context, the ABE is considering putting together a financing scheme to contribute to the establishment of the first model village for animal and agricultural production in the New Valley governorate.
The bank had earlier signed a cooperation protocol with the New Valley governorate, Misr Al Kheir Foundation, and Tahya Misr Fund to establish a 150-feddan village with 150 families, provide employment opportunities for young people and girls, and enable them to own and manage projects.
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