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Farouk announces EGP 149M for veal project beneficiaries

Businessmen Team news 18 July 2025 01:12 PM
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Farouk announces EGP 149M for veal project beneficiaries

Alaa Farouk, Minister of Agriculture and Land Reclamation, announced that the Board of Directors of the National Veal Revival Project has approved EGP 149.8 million in new funding for 107 beneficiaries, including small farmers and recent graduates. The funding will support the fattening of 2,140 head of cattle.

Farouk added that total funding for the project has now exceeded EGP 9.715 billion, benefiting approximately 44,900 recipients. So far, the program has enabled the rearing and fattening of over 520,000 cattle, including beef calves and high-yielding dairy cows, to increase the supply of meat and dairy products.

He noted that the initiative aligns with the presidential “Decent Life” program, launched by President Abdel Fattah El-Sisi, to develop rural areas and improve the livelihoods of small-scale farmers and breeders. He stressed the importance of the project in boosting the availability of red meat at fair and affordable prices for both producers and consumers, while also helping to stabilize prices in the livestock and dairy markets.

Farouk pointed out that teams from the Livestock and Poultry Development Sector and the General Authority for Veterinary Services, in coordination with local agricultural and veterinary directorates, are conducting field visits to provide veterinary and health support, identify challenges faced by beneficiaries on the ground, and work to resolve them promptly.

Deputy Minister of Agriculture, Engineer Moustafa El-Sayyad, stated that the Ministry of Agriculture and partner banks, the Agricultural Bank of Egypt and the National Bank of Egypt, inspect livestock pens to ensure there is adequate space and infrastructure before approving funding. Once animals are received, they are insured through the Livestock Insurance Fund at reduced rates, giving beneficiaries access to the fund’s services as part of the ministry’s ongoing support.

Dr. Tarek Soliman, Head of the Livestock and Poultry Development Sector, said that those interested in benefiting from the National Veal Project can apply through the nearest agricultural office, or a branch of the Agricultural Bank of Egypt or National Bank of Egypt, or by contacting the Livestock and Poultry Development Sector directly.