AlexBank signed a cooperation protocol with the Ministry of Agriculture and Land Reclamation, establishing a strong and mutual collaboration in the field of livestock breeding, to support small and medium enterprises (SMEs) devoted to agricultural activities.
This is meant to further support the initiative of the Central Bank of Egypt to provide financing solutions to SMEs, delivering valuable financial and non-financial support. The protocol also includes partnering with third parties, through funding, training, and consultancy services to improve enterprises’ financial and technical performance.
The protocol was signed by Mona Mehrez, deputy minister of agriculture for livestock, fish, and poultry affairs, representing the ministry, and Dante Campioni, the managing director and CEO of the Bank of Alexandria (AlexBank).
“The ministry is targeting sustainable development in all sectors, whether livestock, fisheries, or poultry, through supporting breeders with imported cattle characterised by high genetic value in milk and meat production, as well as entering into manufacturing phases with equipment for manufacturing cheese, in addition to all farm requirements,” Mehrez said.
The ministry also aims to support and transform the sectors of poultry and fish, to be semi-closed or closed (stock isolated from the external environment) to provide biosecurity, sustainability, and social safety.
“Signing this protocol was based on our belief in the importance of supporting SMEs, in particular those active in the agricultural sector, which is fundamental to the economy of Egypt and offers a great potential in terms of job generation and contribution to an inclusive growth,” said Campioni.
He added that in order to be in line with the Ministry of Agriculture’s strategy to strengthen livestock activities, AlexBank pays great attention to further expanding cooperation with the ministry, in order to develop additional funding programmes, reaching a larger segment of beneficiaries, with the aim of covering all segments operating in the field, eventually consolidating and developing their activities.
The protocol aims to support and develop the field of livestock by facilitating the import of breeds with desirable genetic traits, to increase quality and productivity both in milk and meat production.
According to the protocol, both parties are committed to providing a package of integrated services, aiming to implement development projects that will contribute to Egypt’s 2030 sustainable development strategy.