The Ministry of Agriculture and Land Reclamation has announced that the national project of calf revival’s board of directors has approved loans worth EGP 21.7m so far, benefiting 148 customers in all governorates to buy 2,075 calves and feed.
The ministry said in a statement that 753 customers have applied so far to obtain the loans, with a total value of about EGP 137.7m, to purchase 13,087 calves.
The statement pointed out that there are 434 applications under revision with a total value of EGP 96.6m, while another 171 applications worth EGP 19.3m have been completed and prepared for presentation before the project’s board.
The ministry said that the purchase loan per calf has been increased to EGP 10,000 instead of EGP 7,500, as a part of the new facilities offered by the project to young graduates, who are basically targeted by the project, with a maximum of EGP 400,000.
The ministry has announced the revival of the national project of calves, which targets young farmers and graduates to provide them with loans for the purchase of cattle and feed, which contribute to the creation of job opportunities and the development of livestock in Egypt. The project also aims to meet the market’s needs of red meat, which also contributes to lowering its price.