The Agricultural Bank of Egypt (ABE) has signed a cooperation protocol with Dakahliya Governorate as part of its ongoing commitment to supporting government priorities and promoting financial inclusion. The collaboration aims to introduce a comprehensive financing program for the replacement and renewal of microbus vehicles, with the goal of modernizing public transportation and providing safer, higher-quality services to citizens.
Reflecting the bank’s vision as an active development partner, this cooperation reaffirms ABE’s strong commitment to supporting government efforts to enhance the quality of life and foster meaningful, sustainable development in rural areas.
The protocol was signed by Serag Abdel Fattah, Group Chief of Business Development and Sales at ABE, and Major General Emad Abdallah, Secretary-General of Dakahliya Governorate, in the presence of Major General Tarek Marzouk, Governor of Dakahliya, along with a group of officials from the bank and the governorate.
This protocol represents an integrated model of cooperation between the banking sector and the executive authorities. Under this initiative, ABE will finance the renewal of public transport vehicles in the governorate, including dilapidated small pickup trucks and worn-out microbuses, replacing them with 600 new, modern microbuses through flexible and easily accessible financing programs designed for drivers and vehicle owners.
Serag Abdel Fattah, Group Chief of Business Development and Sales at ABE, stated, “This protocol represents a strategic step toward developing public transportation in Dakahliya Governorate, delivering safer and more efficient services to citizens, while also creating sustainable employment opportunities for youth”
“ABE is committed to providing innovative financial solutions that align with market needs. We are offering unprecedented financing facilities for vehicles, including a 25% down payment and repayment periods of up to 84 months. These solutions empower vehicle owners and support them in increasing their income and meeting their financial obligations, thereby enhancing their social welfare,” Abdel Fattah added.
Serag Abdel Fattah also noted that the protocol was activated immediately upon completion of the signing procedures, with the bank deploying representatives to the Technology Center at the Governorate’s General Office, as well as to all technology centers within the local administrative units across districts, cities, and neighborhoods. This arrangement is intended to receive applications from vehicle owners wishing to replace their vehicles and obtain approval on the same day.
Abdel Fattah also stated that ABE aims, in the current period, to deliver distinguished banking services of the highest quality through streamlined procedures, diverse products and programs that meet the needs of all segments of society, while also attracting new clients. This aligns with the bank’s strategy to be closer to all citizens and capable of fulfilling their various requirements.
ABE selected Dakahliya Governorate for the implementation of this initiative due to its strategic location in the heart of the Nile Delta, its high population density, and its status as one of Egypt’s key economic and agricultural hubs. Accordingly, the development of the transportation system represents a key component of the governorate’s development plans, given its direct impact on citizens’ daily lives and its role in supporting various economic activities. It is also expected that this initiative will be extended to other governorates across Egypt.
The collaboration reflects ABE’s strategy of expanding its provision of flexible financial solutions that meet the needs of all citizens, while focusing on improving operational efficiency and delivering fast services. This reinforces ABE’s position as a leading development bank. The cooperation also serves as a successful model of integration between financial institutions and governmental bodies, contributing to the achievement of sustainable economic and social development, with a positive impact on citizens’ lives across various governorates throughout Egypt.
