Egyptian farmers to access photo voltaic irrigation pumps funding

เครื่องมือที่ใช้ในการวัดความดัน will now acquire solar irrigation pumps simply after International Finance Corporation (IFC) and the Agricultural bank of Egypt (ABE) fashioned a partnership to assist the farmers entry financing to purchase the photo voltaic irrigation methods.
The partnership will help promote Egyptian farmers swap to Solar Irrigation Systems decreasing their reliance on diesel-powered mills and boosting their productivity.
According to IFC, utilizing solar energy for water pumping may probably save farmers an estimated US $875 million yearly in diesel gasoline costs, helping reduce greenhouse fuel.
ABE, one of the country’s largest banks in Egypt, will build capability and design new monetary products to allow Egyptian farmers—most of whom lack direct entry to grid electricity—to buy and install photo voltaic irrigation pumps.
ABE Deputy Chairman – Sami Abdel Sadek, said, “Expanding the use of solar energy know-how among farmers is part of our strategy to help agricultural and rural development in Egypt. It may even contribute to the country’s 2030 strategy to encourage agricultural investments and rationalize the use of assets, together with energy, in the sector.”
READ: Ugandan farmers urged to make use of photo voltaic water pumps in agriculture
Walid Labadi, IFC Country Manager for Egypt, Libya, and Yemen, added that the partnership with ABE will assist provide clear power to farmers at an affordable cost, while helping cut back greenhouse gas emissions. Supporting the development of renewable power and expanding access to finance are priorities for IFC in Egypt.
The partnership is a part of IFC’s broader advisory work to strengthen Egypt’s clean expertise sector and support entrepreneurship in the country.
Under the Cleantech Entrepreneurship and Market Development Project, IFC is helping choose monetary institutions build their capability to supply financing services for off-grid photovoltaic (PV) systems in the agribusiness sector. The challenge is being applied in partnership with the governments of Denmark, South Korea, and the Netherlands.
IFC—a member of the World Bank Group—is the most important global development establishment centered on the non-public sector in emerging markets whereas ABE’s primary objective is to help in the develope Egypt’s agricultural sector.
Share

Leave a Comment