Umbrella agreement to support the agriculture sector projects - Youssry Saleh Law Firm

Umbrella agreement to support the agriculture sector projects

Youssry Saleh & Partners   24 Mar 2016   455 Views

Official Gazette – No. (12) on 20 March 2014 – Page (3) Decision of the President of Arab Republic of Egypt No.  (707) for the year 2013 For approving the Umbrella Agreement signed in Cairo on 25/11/2013

Between the government of the Arab Republic of Egypt and The European Development Partners

Specifically the French Agency for Development and the European Union

Regarding the project of supporting the small and medium projects in the agricultural sector

 

Temporary President

Upon review of the constitutional Declaration promulgated on the eighth of July 2013; and

After the approval of the Cabinet:

 

Decided:

( Single Article )

The Umbrella Agreement signed in Cairo on 25/11/2013 between the government of the Arab Republic of Egypt and the European Development Partners, specifically the French Agency for Development and the European Union regarding the project of supporting the small and medium projects in the agricultural sector by the sum of 52 million Euro, has been approved, with the preservation right with regards ratification.

 

Issued at the Republic’s Presidency on 27 Safar 1435 of Hijra

Corresponding to 30th December 2013

 

Adly Mansour

Preamble of the Umbrella Agreement

In pursuit of enhancing further fruitful cooperation between the government of the Arab Republic of Egypt and the European Development Partners, and the desire to reinforce and intensify the mutual relations by way of mutual cooperation rendered by the partnership spirit, and by the awareness that this solid partnership forms the base for this Umbrella Agreement, and with a purpose of participating in the social and economic development in the Arab Republic of Egypt, and by the spirit of the Paris Declaration and the Akra Declaration with respect the effectiveness of aids, ownership, coordination, harmonization, results, reciprocal accountability, and taking into consideration the following:

 

Purpose of the Project

The Project aims at supporting the small and medium projects in the agricultural sector by way of attributing supports to the efforts of the Arab Republic of Egypt in creating work opportunities and generating income in the rural areas and the development of the agricultural sector, thereupon; the Project contains specific targets, which are:

  • Improving the chances of obtainment of funding for small and medium projects operating in the agricultural sector through an agricultural development program by way of increasing the pertinent private lending schemes and also their absorptive capabilities.
  • Finding a credit securitization plan with the purpose of giving a chance to increase lending made by medium financial institutions capable of providing funds.
  • Improving the production and distribution competencies in the dairies sector.
  • Improve the production and distribution competencies in the fisheries sector.