44,000 Farmers Debts Gone Wow, that was fast. Egypts cabinet approved today the pardoning of 44,000 farmers debts.
Maybe we'll see a NR this week or early next stating that Mint is a signed deal.
https://www.sis.gov.eg/En/Story.aspx?sid=63386
| Thursday, 16 August 2012 |
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Qandeel: Pardoning of 44,000 farmers of debts
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The Cabinet in its second session held on Wednesday 15/8/2012 under Prime Minister Dr. Hisham Qandeel approved to exempt farmers of debts to the Principal Bank for Development and Agricultural Credit.
The farmer's debt should not exceed LE10, 000, 44,000 farmers will benefit from this decision. The state budget would bear LE107 million and the Bank LE28 million.
The cabinet decided as well exempt farmers of Sinai of fifty percent of debts and the state budget and the bank will bear LE59 million and the bank will also bear the interest rates which reach LE 60 million, Qandeel told a press conference.
The cabinet approved as well an agreement of $70 million as a grant by the international fund for agriculture al development to strengthen the marketing capabilities of small farmers.
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