Saudi Arabia Grant Committee approves to fund 5 new projects in Egypt – Egypttoday

Saudi Arabia Grant Committee approves to fund 5 new projects in Egypt – Egypttoday

A Saudi flag flutters atop Saudi Arabia's consulate in Istanbul, Turkey, October 4, 2018. REUTERS/Osman Orsal











CAIRO - 28 June 2020: The Board of Directors of the Saudi Arabia Grant Committee agreed to finance five new projects in Egypt. The Saudi Arabia grant comes with a total value of $200 million, to contribute to financing small, medium and micro projects in Egypt.

Minister of International Cooperation Rania al-Mashat said in a statement on June 28 that three projects of the Egyptian Agricultural Bank and two projects in the field of health care, and value chain support were approved for funding.

Mashat added that the Egyptian Agricultural Bank will obtain LE 100 million to finance three projects in coordination with the Ministry of Agriculture for support food security and small farmers, namely a project to develop rural villages, a project for a value chain financing program, and a program for financing dairy products and dairy laboratories.

She clarified that the three projects aim to provide financing for all small and micro projects in rural villages, targeting projects carried out by rural women and all handicrafts and activities aimed at achieving rural development.

The minister explained that other projects include a