Funding for National Veal Project tops EGP 10bn, reaching over 45,000 beneficiaries
In its latest session, the project's Board of Directors approved EGP 337.832m in new financing for 194 beneficiaries, including small-scale breeders and young graduates, to support 2,089 head of cattle. With this allocation, total project funding now stands at EGP 10.053bn, covering around 45,100 recipients and more than 522,500 heads of cattle, including calves for meat production and high-yield dairy heifers.
Farouk said the project contributes to increasing beef and milk supply in local markets while creating new employment opportunities. It also supports the presidential initiative Hayah Karima, launched by President Abdel Fattah Al-Sisi to improve rural livelihoods and raise living standards for small farmers and breeders. He stressed its importance in making red meat available at fair and reasonable prices for both producers and consumers, while helping stabilise livestock, meat, and dairy prices.
The Minister added that specialised field committees from the Livestock and Poultry Development Sector and the General Authority for Veterinary Services, in cooperation with local agricultural and veterinary directorates, are conducting regular follow-ups to provide veterinary support and address challenges faced by beneficiaries on the ground.
Mostafa El-Sayyad, Deputy Minister of Agriculture and Land Reclamation, confirmed that the Ministry, together with the Agricultural Bank of Egypt and the National Bank of Egypt—the project's main financiers—carries out technical inspections of barns to ensure proper facilities and adequate space before loans are approved. Once livestock is delivered, animals are insured through the Livestock Insurance Fund at discounted rates, providing beneficiaries with additional support.
Tarek Suleiman, Head of the Livestock and Poultry Development Sector, noted that participation in the project is open through the nearest agricultural administration office or any branch of the Agricultural Bank of Egypt or the National Bank of Egypt, both of which have a nationwide presence.
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