The National project for Fattening Veal Revival
First: Purpose of allotment:
Finance the purchase of fattening livestock head (cows / buffalo) and the fodder necessary for feeding them to provide red meat.
Second: The target categories : (the customers)
First category:- Young breeders and young graduates of both genders
Second category:- Individual establishments, and companies of all types (senior breeders)
Third category:- Cooperative Associations for Production and Developing Livestock
Third: The funding ceiling:-
First category:-Young breeders and young graduates ( EGP 400,000)
Second and third categories:- Individual establishments, companies and cooperative associations ( EGP 2,000,000)
Fourth: Return rate:-
The finance rate for the final customer is 5% simple diminishing return including the administrative expenses
Fifth: Loan term:
The loan period is the fattening cycle with a maximum of one year (short- term loan)
Sixth: Credit categories for one head:-
First: Purchase: Finance will be with a percentage of 75% of the purchase value, and with a maximum of EGP 10,000 for one head
Second: Feeding: The maximum value for financing the necessary fodder and serums is EGP 5,000 for one head
Seventh: Documents to be available in the customer’s file:-
First category:- Young breeders and young graduates
- A copy of the national ID card (valid) of the finance applicant , and of the guarantor, if any
- A copy of the academic qualification for young graduates after reviewing the original certificate
- Proficiency of reading and writing for young breeders of both genders
- Certificate of good behavior ( Certificate of police record)
- A survey certificate indicating the availability and validity of the place as well as the suitable area for the implementation of the project to be funded (accredited by the committee which is formed of the credit official of the granting bank, the general authority for veterinary services official and the animal wealth development sector official) (or their representatives such as the veterinary medicine unit and agricultural directorates), in addition to a copy of the title deed or the lease contract of the place, provided that the copy shall be signed after reviewing the original, ensuring the availability of the head of livestock to be fed
- A copy of the valid agricultural holding card (if any) of the owning breeder (male or female).
- An authorization (by the fund applicant and guarantor if any) to the bank to review their accounts at the banking system, the central credit registry of the Central Bank of Egypt and I-Score Egypt pursuant to the instructions of the Central Bank of Egypt.
- A livestock insurance policy to be issued from the livestock insurance fund on behalf of the bank and at the customer’s own
- Expense after disbursing the finance for purchasing the livestock head and before disbursing the feeding finance
- Receipts proving vaccination of livestock
- Registering and numbering card of the animal certified and sealed by the competent bodies (the general authority for veterinary services or its representatives in governorates).
- Activity licenses for beneficiaries who desire to get finance for purchasing and feeding more than twenty head
Second category: Cooperative Associations
Finance is allocated to the associations only in their capacity as legal persons
– The statute indicating that the association has the right to borrow, and indicating the authorized signatories and borrowers
– Submitting a minute of the association’s board of directors indicating the approval of the requested finance value, its purpose, and determining the officer authorized by the association to contract with the bank, and to sign credit disbursement documents, provided that the minute shall be accompanied by the last approved budget that not exceeds one year. The minute shall be approved by the competent administrative authority, and stamped with the emblem of the Republic, and the board members jointly and severally liability in paying the loan, its annexes, and the general assembly’s acknowledgment
– A copy of the national ID of the chairman of the association and of the association’s board members and of those who have the right to sign.
– Activity licenses
– The livestock insurance policy to be issued from the livestock insurance fund on behalf of the bank and at the customer’s own expense
– Receipts proving vaccination of the livestock
– Registering and numbering card of the animal certified and sealed by the competent bodies (the general authority for veterinary services or its representatives in governorates)
– The last three financial statements approved by the competent administrative body for existing associations and the opening balance only for new associations
– An authorization for inquiring about the accounts of the association and its board of directors at the Central Bank of Egypt and I-Score Egypt
– A simplified economic feasibility study of the project
- The Revival Project is funded within the framework of the CBE initiative, with the exception of the legal form, size of sales and capital defined by the definition of existing and new microenterprises.
- In case of the customer’s delay in payment, the interest shall be calculated on the basis of (Corridor rate of lending +2% ) as of the loan’s maturity date until the actual payment.
- Female cattle are not funded at all
- The head weight of cattle is not more than 250 kg.