{"id":555715,"date":"2021-11-24T03:50:08","date_gmt":"2021-11-24T03:50:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/24\/cbe-announces-multi-bn-egp-lending-program-to-modernize-irrigation-systems\/"},"modified":"2021-11-24T03:50:08","modified_gmt":"2021-11-24T03:50:08","slug":"cbe-announces-multi-bn-egp-lending-program-to-modernize-irrigation-systems","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/24\/cbe-announces-multi-bn-egp-lending-program-to-modernize-irrigation-systems\/","title":{"rendered":"CBE announces multi-bn EGP lending program to modernize irrigation systems"},"content":{"rendered":"

<\/a> The Central Bank of Egypt will help fund the government\u2019s push to reduce the<\/strong> amount of water used by Egyptian agriculture<\/strong>, announcing (pdf)<\/a> yesterday a multi-bn EGP program to help farmers switch to modern, more water-efficient irrigation methods. The central bank will channel EGP 55.5 bn to farmers and agribusinesses to purchase new equipment and install new irrigation systems, which will be deployed as soft loans through state-owned institutions National Bank of Egypt (NBE) and the Agricultural Bank of Egypt (ABE).<\/p>\n

No strings: <\/strong>Borrowers will repay the sum over a 10-year period with zero interest, the bank said, with their first payment due one year from the date they complete the installation of the infrastructure.<\/p>\n

This isn\u2019t the central bank\u2019s first gig financing irrigation policy: <\/strong>This initiative replaces a similar CBE program that provided finance to farmers at a 5% rate of interest.<\/p>\n

Ambitious targets:<\/strong> The initiative aims to equip about 4 mn feddans of agricultural land with modern irrigation systems within three years, the CBE said.<\/p>\n

The push for modern irrigation<\/strong> has been ongoing for years now: <\/strong>The government had announced a USD 50 bn<\/a> water saving plan in 2019 focusing on promoting modern irrigation methods and the cultivation of non-water intensive crops, with the aim to overcome water scarcity by encouraging the use of modern irrigation methods, cultivation of fewer water-intensive crops and establishment of desalination plants. And back in May the Cabinet agreed<\/a> to a set of measures as part of the government\u2019s shift towards modern irrigation systems, as well as setting up a specialized committee to oversee the project.<\/p>\n

Reuse is also a priority: <\/strong>The government is studying proposals to reuse 3 bn cbm of agricultural drainage water each year, which could help save about 2 bn cubic meters of water annually, the cabinet<\/a> said yesterday.<\/p>\n

Critical background: <\/strong>We think water leakage in agriculture could be Egypt\u2019s most pressing water infrastructure problem<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Central Bank of Egypt will help fund the government\u2019s push to reduce the amount of water used by Egyptian agriculture, announcing (pdf) yesterday a multi-bn EGP program to help farmers switch to modern, more water-efficient irrigation methods. The central bank will channel EGP 55.5 bn to farmers and agribusinesses to purchase new equipment and […]<\/p>\n","protected":false},"author":1,"featured_media":555716,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7278],"tags":[72,7111,9107,364],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-555715","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infrastructure","tag-enterpriseam","tag-infrastructure","tag-irrigation","tag-water","wpautop","entry"],"acf":{"mongo_id":"8feda0dc-e14e-4c0a-81ab-23d679fa27ac","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/11\/579.jpg","photo_position":"above","related_issue":[555706],"teaser":"","voice_url":""},"yoast_head":"\nCBE announces multi-bn EGP lending program to modernize irrigation systems - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/24\/cbe-announces-multi-bn-egp-lending-program-to-modernize-irrigation-systems\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBE announces multi-bn EGP lending program to modernize irrigation systems\" \/>\n<meta property=\"og:description\" content=\"The Central Bank of Egypt will help fund the government\u2019s push to reduce the amount of water used by Egyptian agriculture, announcing (pdf) yesterday a multi-bn EGP program to help farmers switch to modern, more water-efficient irrigation methods. 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The ministry will select the winning offer by October 2019, with construction work set to begin during\u2026","rel":"","context":"In "Infrastructure"","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":562536,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/27\/more-railway-funding-from-ibrd-moving-towards-modern-irrigation\/","url_meta":{"origin":555715,"position":3},"title":"More railway funding from IBRD + moving towards modern irrigation","author":"enterpriseam admin","date":"27 May 2021","format":false,"excerpt":"Fresh funding for our railways from IBRD: The Madbouly Cabinet signed off yesterday on a USD 362.9 mn facility from the World Bank\u2019s lending arm, the International Bank for Reconstruction and Development (IBRD) to develop and upgrade the country\u2019s rail network, according to a Cabinet statement. The funding will be\u2026","rel":"","context":"In "Cabinet watch"","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":577375,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/21\/central-bank-to-end-support-for-subsidized-loans\/","url_meta":{"origin":555715,"position":4},"title":"Central bank to end support for subsidized loans","author":"enterpriseam admin","date":"21 November 2022","format":false,"excerpt":"The Central Bank of Egypt is going to stop providing funding for subsidized loans and pass the responsibility to the housing, finance and tourism ministries, under a decree issued by Prime Minister Moustafa Madbouly in the Official Gazette yesterday. Refresher: For the past couple of years, the CBE has run\u2026","rel":"","context":"In "Policy"","block_context":{"text":"Policy","link":"https:\/\/enterpriseam.com\/egypt\/category\/policy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/315.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":602897,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/09\/irrigation-minister-outlines-usd-50-bn-plan-for-combating-water-scarcity\/","url_meta":{"origin":555715,"position":5},"title":"Irrigation Minister outlines USD 50 bn plan for combating water scarcity","author":"enterpriseam admin","date":"9 April 2019","format":false,"excerpt":"Irrigation Minister Mohamed Abdel Atti revealed Egypt\u2019s USD 50 bn plan to combat water scarcity through 2037 during Beirut Water Week, reports Ahram Online. The plan aims to overcome water scarcity by encouraging the use of modern irrigation methods, cultivation of fewer water-intensive crops and establishment of desalination plants, among\u2026","rel":"","context":"In "Infrastructure"","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555715","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=555715"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555715\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/555706"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/555716"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=555715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=555715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=555715"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=555715"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=555715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}