Egypt Government Ups Farmer Support Plan, Allocates $67 Million

Written by Makula Dunbar

Aug 08, 2013

The Egyptian government has allocated EGP 473.2 million ($67.6 million) in the budget of fiscal year 2013-2014 to extend support to farmers.

Last year, the government had spent EGP 183.9 million ($26.2 million) on farmer support plans. A report compiled for Minister of Finance Ahmed Galal shows that during last three years more than EGP 1 billion ($143 million) were allocated to boost agricultural output and support farmers.

The report highlights that out of the total budget allocation; an estimated EGP 340 million ($48.5 million) will be used to support the interest rate differentials on vegetable production loans provided by the Principal Bank for Development and Agricultural Credit (PBDAC).