By: Islam Fadl
Cairo – Mubasher: The Egyptian Company for Agricultural and Rural Development (ECARD), fully-owned by the Agricultural Bank of Egypt (ABE), has secured EGP 27.86 million ($500,000) in financing from the ABE from January to August.
ECARD has utilised this amount to import agricultural machinery including tractors and loaders, the company’s vice chairman Ahedi Abdul-Karim told Mubasher.
The company has also signed a memorandum of understanding (MoU) with Bell Machinery Company to import small tractors and loaders, he added.
The top official revealed that ECARD was studying the closure of a deal with India’s Escorts Group to import medium-sized tractors and loaders.
Translated by: Muhammad Khalid
