Agricultural Bank of Egypt Empowers Rural Entrepreneurs with 'Bab Rizq' Microfinance Program

Thursday, the caravan of Bab Rizq launched by Agricultural Bank of Egypt began its journey across the entire republic, specifically in the villages of the Sharqia Governorate, including the villages of Al-Blashoun and Bani Saleh in the Bilbeis center, to introduce the Microfinance Program (Bab Rizq).

The caravan aims to empower women, youth, and small farmers by providing small loans up to EGP 15,000 with simple interest rates and easy procedures. Bab Rizq program offers an ideal opportunity for those interested in crafts, freelancing, handicrafts, and trade, providing new and sustainable sources of income to enhance the living standards of a wide sector of rural residents.

This initiative aligns with President Abdel Fattah El-Sisi's directives to improve citizens' quality of life and achieve sustainable development. Agricultural Bank of Egypt collaborates with various state institutions, contributing significantly to the implementation of the presidential initiative Decent Life to develop villages.

Through these caravans, the bank expands its financing opportunities for agricultural, productive, and rural activities in villages to improve income levels and enhance banking services in all villages, aiming to achieve financial inclusion and create employment opportunities for rural residents.

The Agricultural Bank's caravans also focus on raising awareness about the banking services provided, encouraging rural residents to use electronic payment methods, promoting financial inclusion. The bank issues free "Meeza" cards to villagers, encouraging them to use electronic payment cards, aligning with efforts to expand the ATM network across the country.

Bab Rizq program is one of the essential financing initiatives offered by the bank, providing personal cards and accompanying documents only to artisans, freelancers, and housewives, enabling them to utilize their skills for independent businesses, generating profits and gains.

 Successful entrepreneurs, looking to expand their activities, will continue to receive support from the bank, with new financing options up to EGP50,000, following the same simple procedures.