Agricultural bank cancels 90% of farmers' interests
Minister of Agriculture Adel el-Beltagy
Cairo - MENA
Minister of Agriculture Adel el Beltagy said Thursday that the Bank for Development and Agricultural Credit (PBDAC) would drop 90 percent of interests due to be paid by insolvent farmers.
The minister made the remarks while chairing a meeting of the the bank's general assembly.
The move comes as part of a development plan to help faltering farmers to pay their debts in installments.
Beltagy asserted the important role played by the PBDAC in supporting farmers and investment in Egypt.
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