Cairo – Mubasher: The Egyptian Countryside Development Company announced new payment incentives for small farmers and investors who obtained land plots under the “1.5 million feddan” initiative.  

The company cancelled the interest rate accrued during the grace period retrospectively, according to a statement on Tuesday.

In addition, the grace period will be extended by one additional year to farmers and investors who joined the initiative, totalling four years for land plots with wells and five years for land plots without wells.

Moreover, an additional year will be added to the payment period, increasing the payment and grace periods to 15 years from 13 for small farmers (234 feddans), 14 years from 12 for investors (460 feddans), and 14 years from 12 for those who applied for regularisation of land possession.