Egypt’s Agriculture Ministry, WFP to launch 2nd phase of smallholder farmers project
Updated 9/25/2024 9:17:00 AM
Arab Finance: The Egyptian Ministry of Agriculture and Land Reclamation and the United Nations (UN) World Food Program (WFP) have signed an agreement to launch the second phase of the Transforming the Livelihoods of Smallholder Farmers project, as per a statement.
The signing came in light of the CBE’s financial inclusion strategy 2022/2025 to achieve economic empowerment for all segments.
The project aims to improve the livelihoods of smallholder farmers socially and economically through optimal land and water resource utilization.
It also focuses on empowering women economically and offering them financial literacy programs.
The project’s second phase is set to include several villages supported by the Decent Life initiative, covering the governorates of Luxor, Aswan, Qena, Sohag, Assiut, and Minya.
Five banks are participating in this phase, including the National Bank of Egypt (NBE), Banque Misr, Agricultural Bank of Egypt (ABE), ALEXBANK, and Abu Dhabi Commercial Bank (ADCB), with total funding of over EGP 120 million.
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