Cairo, Egypt – In line with Banque Misr’s commitment to supporting the State’s efforts in achieving sustainable agricultural development and enhancing investment and production opportunities, Banque Misr has signed two cooperation protocols with the New Egyptian Countryside Development Company at the Bank’s headquarters.

The protocols were signed by Mr. Hisham Okasha, Chief Executive Officer of Banque Misr, and Major General Eng. Amr Abdel Wahab, Chairman and Managing Director of the New Egyptian Countryside Development Company, in the presence of Mr. Hossam Abdel Wahab, Deputy Chairman of Banque Misr; Mr. Ihab Dorra, Head of Branches and Retail Banking Sector; Mr. Magid Abdallah, Head of Small and Medium Enterprises (SMEs) and Microfinance Sector; Mr. Mohsen Darwish, Head of Branches Sector; along with senior executives from both parties.

The first protocol is part of the “Your Farm in Egypt” initiative, which provides Egyptians abroad with the opportunity to invest in agriculture and own farmland ranging from 40 to 200 feddans per individual or contracting company.

The second protocol aims to finance and support investors benefiting from lands within the 1.5 million feddan national reclamation and cultivation project, provided they meet the Central Bank of Egypt’s criteria for small and medium enterprises. Financing will be extended according to Banque Misr’s credit rules and regulations, covering several project areas including El-Moghra, West Minya, West Minya Extension, Old Farafra, Toshka Wells, El-Tor, and other regions.

Mr. Hisham Okasha, Chief Executive Officer Banque Misr, stated: “The signing of these two protocols reflects Banque Misr’s strategy to support major national projects that serve as a cornerstone for achieving sustainable economic development. The Bank is committed to providing integrated banking and financing solutions that attract investments from Egyptians abroad and support agricultural reclamation and development projects, thereby contributing to food security and expanding Egypt’s agricultural land.”

He emphasized that cooperation with the New Egyptian Countryside Development Company represents a significant step in supporting agricultural and investment development plans through providing necessary banking services to beneficiaries of the 1.5 million feddan project, maximizing economic returns, and achieving development objectives. He added that Banque Misr attaches great importance to the SME sector as one of the main drivers of economic growth and job creation, stressing the Bank’s continuous efforts to strengthen effective partnerships with national institutions to support development plans and enhance the banking sector’s role in supporting Egypt’s economy.

Major General Eng. Amr Abdel Wahab, Chairman and Managing Director of the New Egyptian Countryside Development Company, affirmed that signing the two cooperation protocols with Banque Misr is an important step within the Company’s strategy to enhance agricultural investment opportunities and provide more facilities, financing, and banking solutions to investors and beneficiaries of the 1.5 million feddan national project.

He explained that the project is one of the largest integrated agricultural and developmental projects implemented by the Egyptian State in modern times, noting that nearly 600,000 feddans have already entered reclamation and cultivation phases across various project areas. The project has created approximately 500,000 direct and indirect job opportunities to date, while supporting new urban communities and generating promising investment and production opportunities for Egyptian youth, investors, and Egyptians abroad.

Mr. Abdel Wahab also highlighted that the “Your Farm in Egypt” initiative is one of the most significant initiatives launched by the Company in cooperation with the Ministry of Foreign Affairs, the Ministry of International Cooperation, and Egyptians abroad. The initiative enables Egyptians living abroad to directly participate in agricultural development and sustainable growth in their homeland by owning and investing in farmland within the 1.5 million feddan project, thereby reinforcing their connection to the national economy.