Saudi Arabia will be contributing EGP 200 million to finance Egyptian projects in healthcare, value chain support and food security.
The Saudi Arabian Grant committee has financed 1,176 projects across 27 governorates in Egypt, and now they’ve added five more to the count. The committee has recently pledged to finance five projects in Egypt: two in the fields of healthcare and value chain support as well as three projects planned by the Egyptian Agricultural Bank to support rural development.
Warning: information overload coming up ahead. The total funding for all the projects is EGP 200 million, EGP 100 million of which will go towards the Egyptian Agricultural Bank in their projects supporting food security, small farmers and developing rural villages (including handicrafts projects by rural women), a value chain financing programme as well as a programme for funding dairy labs and the production of dairy products.
The remainder of the fund will go towards supporting the healthcare sector, with half going through the Contact Leasing Company, and the other half going through a separate project that will fund value chains, and provide logistic support for both small and medium projects.