As part of the CBE’s initiative to provide SMEs financing mechanisms
Cairo, June 2018: ALEXBANK has 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 devoted to agricultural activities. This is meant to further support the CBE’s initiative to provide financing solutions to SMEs, delivering valuable financial and non-financial support, also by partnering with third parties, through funding, training and consultancy services to improve enterprises’ financial and technical performance.
The protocol was signed by Dr. Mona Mehrez, Deputy Minister of Agriculture for Livestock, Fish and Poultry Affairs, representing the Ministry, and Mr. Dante Campioni, Managing Director & CEO of ALEXBANK, in the presence of a number of representatives from the Ministry and the Bank.
Dr. Mona Mehrez, Deputy Minister of Agriculture for Animal, Fisheries and Poultry Affairs said "The goal of the MALR is sustainable development in all sectors " livestock, fisheries and poultry" by supporting the breeders with imported cattle characterized by high genetic value in milk and meat production more over availability of loans for small milking machines. The MALR also targeted sector III of poultry to be semiclosed or closed which will be more beneficial for this sector after application of biosecurity the afore mentioned will support the social safety by giving successful stories".
Dante Campioni, CEO and Managing Director of ALEXBANK stated, “Signing this protocol was based on our belief in the importance of supporting SMEs, in particular those active in the agricultural sector, that is fundamental in the economy of Egypt and offers a great potential in terms of job creation and contribution to an inclusive growth”
He Added ‘’alongside the strategy of the Ministry of Agriculture to strengthen livestock activities, Alexbank considers further expanding the cooperation with the Ministry developing additional financing programs to extend the audience of the beneficiaries, with the aim to cover all segments operating in this field, consolidating and developing their activities”.
The protocol aims to support and develop the field of livestock by facilitating the import of strains with high genetic traits, to increase quality and productivity both in milk and meat production. Both parties have committed to provide a package of integrated services and facilities aiming to implement development projects that will contribute to pursue Egypt’s 2030 development strategy.