Agricultural Bank of Egypt Has Loaned EGP 69.4B Since January 2023

A total of EGP 69.4 billion in microloans were given out by the Agricultural Bank of Egypt to over half a million customers since January 2023. In layman’s terms, the bank - which focuses primarily on financing agricultural projects across Egypt - has shifted gears in order to support agricultural businesses from the ground up to bolster the country’s food security.

Approximately 80% of the bank’s current credit portfolio is directed towards financing the agricultural sector and related industries, with loans for agricultural crops amounting to about EGP 14.503 billion, benefiting hundreds of thousands of farmers.

This increase was largely due to the bank’s multiple adjustments of their loan criteria for agricultural crops over the last two years - with interest rates ranging between 25% and 70% -  to help farmers cope with the rising costs and requirements associated with agricultural crop production.