Egypt supports youth in establishing SMEs through bank initiatives

Egypt supports youth in establishing SMEs through bank initiatives

Alaa Farouk, Minister of Agriculture and Land Reclamation, announced that the Ministry of Agriculture is open to receiving practical, implementable ideas from young graduates and students of agricultural colleges. This initiative aims to support youth-driven agricultural projects, in line with the state’s commitment to promoting youth involvement in Egypt’s economic development.

Farouk made these remarks during an open meeting organized by the Youth Magazine at Al-Ahram Foundation, which brought together young graduates and agricultural college students. The session, titled “Your Path is Green,” focused on encouraging small agricultural projects. The event was attended by Sami Abdel Sadek, Acting Chairperson of the Agricultural Bank of Egypt (ABE), Mohamed Fayez Farhat, Chairperson of Al-Ahram Foundation, Mohamed Abdullah, Editor-in-Chief of Youth Magazine, deans of agricultural colleges, and private sector representatives.

The Minister of Agriculture urged young people to take advantage of the opportunities and initiatives provided by the government, including funding, training, and technical support for agricultural projects.

Farouk expressed his appreciation to the Youth Magazine and Al-Ahram Foundation for organizing the event, highlighting the importance of supporting youth in the agricultural sector as a key driver of sustainable development in Egypt. He emphasized that the government recognizes the critical role that youth play in the agricultural future of the country.

The Minister also confirmed that the Agricultural Research Center is ready to provide technical support, guidance, and consultations to help young entrepreneurs implement their projects. He stressed that investing in the creativity and energy of youth in agriculture is vital for Egypt’s future and economic growth, particularly as the agricultural sector remains one of the country’s most important economic pillars.

Farouk outlined the government’s ongoing efforts to empower youth, including providing funding for small and medium-sized enterprises (SMEs) through initiatives from the Central Bank of Egypt (CBE) and national banks, especially ABE.

The Agricultural Bank of Egypt offers financing programs for young people wishing to establish small agricultural projects.

Additionally, intensive training programs in modern agriculture, animal production, and related fields are available through institutions like the Agricultural Research Center, Desert Research Center, and the Faculties of Agriculture and Veterinary Medicine at Egyptian universities.

Farouk also discussed ongoing collaborations between government agencies and the private sector to develop digital platforms that will facilitate the marketing of agricultural products

He emphasized that supporting youth in the agricultural sector is an investment in Egypt’s future, contributing to food security, expanding agricultural manufacturing, and boosting agricultural exports. This, in turn, will help open new markets and increase the added value of Egyptian agricultural products.

Source: Daily News Egypt

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