By: محرر
The Agricultural Bank of Egypt and the Sharqia Governorate have signed a joint cooperation protocol aimed at replacing and modernizing the public transportation system in the governorate's villages and centers. The initiative seeks to transition toward safe and civilized transportation methods.
The protocol was signed by Major General Abdel Ghaffar El-Deeb, Secretary General of the Governorate, and Seraj Abdel Fattah, Head of Business Development and Sales Group at the Agricultural Bank of Egypt. The ceremony was attended by Engineer Hazem El-Ashmouny, Governor of Sharqia, and Ibrahim Attia, Executive Consultant for Branches.
Modernizing Fleet for Safety and Service
The agreement aims to provide financing to replace old microbuses and unsafe quarter-truck vehicles currently used for passenger transport with modern microbuses. This move is intended to improve service levels for citizens, ensure passenger safety, and enhance the governorate's urban appearance.
Governor Sharqia, Hazem El-Ashmouny, praised the Agricultural Bank of Egypt's efforts in supporting the governorate's development plans and its various financing and community initiatives. He emphasized the importance of expanding cooperation with the bank to utilize its banking expertise and widespread branch network for projects that directly impact citizens' lives.
Unprecedented Financing Terms
Seraj Abdel Fattah stated that the protocol provides innovative and easy financing solutions to support sustainable development. The bank will offer unprecedented facilities and fast-track procedures to help drivers replace old, unsafe vehicles with modern ones, helping them comply with state decisions to ban dilapidated vehicles from passenger service.
The financing package includes a down payment of 25% of the microbus value, with repayment periods extending up to 84 months. The bank aims to provide quick procedures to meet the needs of various customer segments as part of its strategy to be the closest bank to its clients.
Streamlined Implementation Process
To facilitate the transition, the implementation mechanism will involve sales representatives from the Agricultural Bank of Egypt working in coordination with the governorate. These representatives will be available to receive applications from vehicle owners seeking updates and will work to finalize bank approval on the same day.
