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Wednesday, 17 March 2021

IFC, Alexbank to finance solar irrigation systems for Egyptian farmers

Egyptian farmers could collectively save up to EGP 14 bn in fuel costs by using solar-powered irrigation systems, which the International Finance Corporation (IFC) will help finance by on-lending through Alexbank, the international lender said in a statement. The statement does not disclose how much funding the IFC will provide.

Other things we’re keeping an eye on this morning:

  • EGX-listed dairy products maker Domty and Dutch food manufacturer FrieslandCampina International Holding are setting up a joint venture to manufacture, sell, and export dairy-based products.
  • The National Bank of Egypt will provide Gastec with e-payment services using its PoS systems, under an agreement signed between the two parties yesterday.

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