In May 2016, OeEB provided a long-term credit line of EUR 7 million to the Egyptian SEKEM Holding for Investment Company S.A.E. ("SEKEM").
|Project name||SEKEM Egypt|
|Region||MENA (Middle East and Northern Africa)|
|Sector||Agribusiness / Agriculture|
|OeEB project volume||EUR 7 million|
|Projekt partner(s)||SEKEM Holding for Investment Company S.A.E. (SEKEM)|
SEKEM is known as a pioneer of organic farming in Egypt. The company’s activities include growing, processing and marketing organic food (e.g. vegetables, teas, spices, and herbs), producing textiles made of organic cotton and producing organic medicines.
OeEB’s funds are mainly dedicated to the financing of expansion investments such as the purchase of a new packaging machine for teas and energy efficient machines for storing and cooling herbs and spices.
This helps improve the country’s food supply and promotes the environmentally friendly and resource-efficient agriculture.
Prior to the credit line, OeEB supported Sekem with Business Advisory Services funds in running tests for a newly developed agro-photovoltaic system: Semi-transparent panels produce energy for irrigation systems and at the same time provide shade which makes it possible to cultivate the area underneath.