Arab Finance: The Minister of Agriculture and Land Reclamation, Alaa Farouk, witnessed the signing of a joint cooperation protocol between Desert Research Center and QNB Bank EgyptWith the aim of supporting and developing agriculture in the Sinai Peninsula.
It was signed by the cooperation protocol: Dr. Hossam Shawky, head of the Desert Research Center, Mohamed Mahmoud Badir, CEO and member of the bank’s board of directors, in the presence of representatives of the Ministry of Agriculture and QNB Egypt, in a new step to enhance partnership between national institutions to achieve sustainable development in the agricultural sector.
The protocol includes the launch of the “Namaa” initiative, an initiative launched by the Desert Research Center for partnership with national and regional institutions, to implement a number of development projects in agricultural gatherings in South Sinai, and support farmers by providing small funds for a number of projects that contribute to increasing productivity and improving income, as well as empowering women in desert areas, achieving family and social stability, by providing support for small projects Micro -agricultural gatherings in Sinai.
For his part, Alaa Farouk, Minister of Agriculture and Land Reclamation, said that this protocol aims to finance 40 agricultural projects in the Essential Development Power Assembly in South Sinai as a preliminary stage that includes micro -projects in various agricultural fields and training beneficiaries from agricultural projects to use the most appropriate healthy agricultural practices that achieve the highest rates of production, which enhances agricultural production, pointing out that the protocol also contributes In providing new job opportunities in desert areas, food security and sustainable development in desert areas, as well as strengthening the partnership between the banking, research and agricultural sector to achieve economic development and enhance family stability.
For his part, Mohamed Badir, CEO of QNB Egypt, said that this agreement comes within the framework of the bank’s keenness to support the state’s efforts to achieve sustainable development, especially in priority areas such as Sinai, in line with the bank’s strategy and the directives of the Central Bank of Egypt, expressing its appreciation for this cooperation with the Desert Research Center and its efforts in developing Egypt’s lands, under the auspices of His Excellency the Minister of Agriculture. He added that this partnership represents an important step towards empowering farmers and their families and achieving development, explaining that financing targeted projects reflects the importance of coordinating efforts between financial institutions and various national institutions.
Dr. Hossam Shawky, head of the Desert Research Center, stated that this cooperation comes within the framework of the efforts of the Ministry of Agriculture to develop agriculture in the deserts and new regions in Egypt, in addition to improving the livelihood of beneficiaries from agricultural projects, especially the agricultural gatherings project in Sinai through effective partnerships with national and regional financing institutions that operate in the Arab Republic of Egypt, pointing out that it also contributes to enabling more than 40 beneficiaries by providing financing to implement projects Development in agricultural gatherings in South Sinai in addition to projects to support women, which contributes to developing sustainable agriculture, increasing productivity, empowering women and maximizing their role to contribute to family stability.
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