The Export Development Bank of Egypt (EBE) signed a cooperation protocol with Misr Al-Khair Foundation, aiming to establish 50 greenhouses, with a production capacity of 2,800 tonnes per season, and provide 200 jobs for youth.
This cooperation also aims to increase the total number of agricultural estates managed by the Misr Al-Khair Foundation, and supervise them, as it works to increase the agricultural productivity of vegetables, to contribute to self-sufficiency and reduce prices, in addition to encouraging exports by focusing on export crops.
According to Mervat Soltan, chairperson of EBE, the bank adopts one of the development projects related to the bank’s main activity, namely export, through contributing in the financing of the establishment of 50 greenhouses, in collaboration with the Misr Al-Khair Foundation, with the aim of growing crops for export.
She added that the protocol includes the training and employment of young graduates, as well as creating jobs for them, and encouraging them to work, alongside with a focus on improving the level of agricultural crops, in line with the objectives of the state to expand agricultural areas, adding that the bank has launched the ‘Plant, Harvest, Export’ initiative.
According to Mohamed Abdelrahman, deputy CEO of Misr Al-Khair, the foundation is keen on helping and enabling youth to curb unemployment, and provide decent living opportunities for the most deserving families.
Abdelrahman added that the foundation works through the agricultural hothouse on several axes, the most important of which is increasing the cultivated vegetable areas, thus reducing prices, commensurate with the current economic conditions, in addition to encouraging exports, providing foreign currency to contribute to national projects, as well as employing youth.
The organisation, while supervising agricultural greenhouses, provides technical support to farmers, and improves technical efficiency, as well as creates an integrated community of small producers, providing large quantities of waste water, and raising awareness of modern irrigation methods, in addition to changing ancient agricultural cultures, he pointed out.
Misr Al-Khaircharity also encourages investors to create complementary industries during the post-harvest stages, which include sorting, packaging, agro-processing and pre-harvest, by providing production inputs, thereby increasing employment opportunities, and providing sources of income for all participants in the agricultural sector.
