Arab Finance: Egypt has launched an initiative to exempt defaulters from paying interest and fines of delayed installments due to the General Authority for Rehabilitation and Agricultural Development (GARPAD), Minister of Agriculture and Land Reclamation Al-Sayed El-Quseir announced on October 31st.
El-Quseir added that more than 80,000 farmers will benefit from the initiative, with a total amount of about EGP 500 million.
The initiative comes under the directions of President Abdel Fattah El-Sisi to ease burdens on farmers.