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Egypt plans strategic expansion of poultry sector

New partnership between the Giza Chamber of Commerce and Agricultural Bank of Egypt aims to increase poultry production.

27 July 2020, at 8:29am

According to reporting in Daily News Egypt, the Giza Chamber of Commerce and the Agricultural Bank of Egypt (ABE) plan to sign a cooperation protocol that will boost poultry production in Egypt.

The proposed agreement will expedite the formation of new poultry farms and slaughterhouse projects. This forms part of a central bank initiative to fund small projects with 5 percent declining interest rates.

According to Sameh Al-Sayed, head of the Giza Chamber’s Poultry Division, the exact terms of the protocol are being prepared. They are expected to include forming a joint committee that will streamline the financing process for those who want to establish new poultry farms or processing centres.

Al-Sayed’s comments came amid a meeting that explored Egypt’s plan to expand slaughterhouse construction. The meeting also reviewed measures aimed at preventing the trade of live birds.

Read more about Egypt’s development plans here.