The Agricultural Bank of Egypt has signed a cooperation protocol with Sharqia Governorate to modernize the public transportation system across the governorate’s villages and districts by offering financing facilities for the purchase of new minibuses. This initiative aims to replace outdated minibuses and unsafe pickup trucks used for passenger transportation with modern vehicles that meet safety requirements.
Under the agreement, eligible applicants can benefit from a down payment starting at 25% of the vehicle’s value, with repayment periods of up to 84 months, or seven years. The protocol was signed by Abdel Ghaffar El-Deeb, Secretary-General of Sharqia Governorate, and Serag Abdel Fattah, Head of Business Development and Sales at the Agricultural Bank of Egypt.
Sharqia Governorate’s New Transportation Initiative
The partnership aims to enhance public transportation safety and efficiency. By providing financing solutions, the Agricultural Bank of Egypt supports local development and improves essential services for residents. This initiative is part of broader efforts to enhance the quality of life in Sharqia.
Key Figures on Financing for Minibuses
- 25% down payment required for new minibuses
- Repayment period of up to 84 months
Commitment to Sustainable Development
Hazem El-Ashmouny praised the Agricultural Bank of Egypt’s role in supporting the governorate’s development plans. The bank’s financing programs are designed to help residents replace old vehicles with safer options. This initiative also aims to support drivers’ income and ensure compliance with government regulations regarding vehicle safety.
Next Steps for Implementation
- Sales representatives will be deployed to assist vehicle owners with applications.
- Financing requests will be processed on the same day to expedite funding access.
The Agricultural Bank of Egypt is enhancing public transportation safety through accessible financing solutions.
