News Details

Saudi Arabia Approves EGP 200mn Grant to Finance 5 New Projects in Egypt

29/06/2020

The Saudi Grant Management Committee's board of directors approved a decision to finance five new projects in Egypt with a funding of EGP 200mn as part of the Saudi grant of USD 200mn. The Agriculture Bank of Egypt will obtain EGP 100mn to finance three projects in coordination with the Ministry of Agriculture to develop rural villages, finance the value chain program, and finance the manufacturing of dairy products. Moreover, Contact Leasing will receive EGP 50 million to support the healthcare sector, while UE Finance will secure EGP 50 million to support value chains and provide logistic support to small- and medium-sized enterprises (SMEs). (Mubasher)

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