Cairo – Mubasher: ALEXBANK has signed a protocol of cooperation with the Egyptian Countryside Development Company (ECDC) to support companies operating in land reclamation activities.
The bank will provide financing solutions designed for the beneficiaries of the national project for the reclamation and cultivation of 1.5 million feddans, according to a statement on Tuesday.
The funding will be used for the purchase of equipment and materials needed for the development of agricultural activities as part of the project.
The Managing Director and CEO of ALEXBANK, Dante Campioni, said that the partnership is aimed at contributing to one of the major national projects in the country and providing various banking services to a larger number of companies operating in the land reclamation sector.
Campioni affirmed the bank's commitment to supporting the development of the agricultural sector, which contributes 11% to the country's gross domestic product (GDP).
