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The Agricultural Bank opens 5 new business development centers within the Nile Pioneers initiative

Fathi Al-Sayeh and Eman Al-Wasli

638105840251146760 The Agricultural Bank of Egypt opened 5 new centers for business development services in 5 Egyptian governorates as part of the Central Bank’s Nile Pioneers initiative to support entrepreneurship and youth projects.
638105840251146760 The bank stated in a statement that these centers are in the governorates of Ismailia, Kafr El-Sheikh, Minya, Fayoum and Sohag, and that comes Emphasizing the bank’s keenness to provide non-financial and advisory services, in addition to diversifying its banking and financing services in all governorates for emerging, small and medium enterprises, and encouraging entrepreneurs to launch their projects, especially in the fields of manufacturing, agriculture and digital transformation.
)638105840251146760 The inauguration was witnessed by Alaa Farouk, Chairman of the Board of Directors of the Agricultural Bank of Egypt, and Sherif Luqman, Deputy Governor of the Central Bank for Financial Inclusion, in the presence of Sami Abdel Sadiq, Vice Chairman of the Board of Directors of the Agricultural Bank for Business Sectors. And a number of officials and leaders of the Central Bank Al-Masry and heads of groups and sectors of the Agricultural Bank of Egypt, via video conferencing technology from the main center of the Agricultural Bank.
638105840251146760 He said Alaa Farouk, that the Agricultural Bank of Egypt was keen to support the Nile Pioneers initiative by expanding the opening of business development centers, whose number increased to 9 branches after the joining of the new branches, and the bank aims to increase them to more than 29 center by the end of this year.

According to Alaa, the new centers were established in accordance with the standards and requirements of the Central Bank of Egypt to meet the needs of entrepreneurs, innovators, and owners of ideas and medium and small projects in various governorates and new development areas, to provide technical and advisory support and the necessary financing for them.
638105840251146760 Through these centers, a range of distinctive non-financial services are provided that go beyond the usual concept of banking services to reach the highest levels of quality and success for projects such as Spreading knowledge, creating ideas for new projects, facilitating access to training programs, establishing projects Facilitating activity registration and obtaining licenses, facilitating obtaining feasibility studies, business plan and business model, credit file processing, financial analysis, and networking.

And he pointed out that the Agricultural Bank of Egypt is working to adopt emerging, small and medium enterprises that work in the fields of agricultural industrialization, agriculture and the uses of digital transformation.

and emphasized the bank’s readiness to enter into partnerships with the owners of these projects and to provide them with all means of support, with the aim of enhancing the chances of success of their projects and improving their business environment, which is reflected in the standard of living in their communities, and creating opportunities Work and increase the national product and advance production.
638105840251146760 Sherif Luqman, Deputy Governor of the Central Bank for Financial Inclusion, said that The Nile Pioneers initiative is one of the most important initiatives launched by the Central Bank in cooperation with the banking sector and a number of local and international agencies and universities to provide non-financial services to entrepreneurs and owners of emerging and small projects.

The initiative aims in the coming period to increase the base of participating banks And expanding the network of branches in the initiative at the level of all governorates of the Republic, which contributes to increasing the base of beneficiaries of financial and non-financial services with the aim of supporting local manufacturing, increasing job opportunities and achieving financial inclusion, according to Luqman.
638105840251146760 The Deputy Governor of the Central Bank stated that the business development services centers, which numbered about 114 centers covering 20 province and who Its numbers have increased more than three times in a year 2019 – as it has achieved outstanding results in terms of providing non-financial services to entrepreneurs and project owners through several services such as assistance In preparing credit files, facilitating access to financing, preparing feasibility studies, and networking with customers and suppliers.
638105840251146760 He pointed out that These centers provided from the start of operation in July 2019 until the end of December 2022 about 254 thousand services for more than 0031 A thousand beneficiaries, and women and entrepreneurs accounted for 29% of the total beneficiaries. 20230129