Egyptian action against insolvent farmers to stop until end of 2015

The prosecutor general has agreed to stop legal action against insolvent clients of the Principal Bank For Development & Agricultural Credit (PBDAC).

Agricultural Minister Salah Hilal announced the good news to more than 250,000 farmers Tuesday.

Legal measures will stop until a presidential deadline that ends on December 31, Hilal noted.

The move reflects the government's keenness on alleviating the burden of farmers in such critical circumstances, the minister said.

He made it clear that no action will be taken against PBDAC clients implicated in squandering funds until the end of this year. Lawsuits filed against them will, likewise, be delayed until next year, Hilal added.

In his recent meeting with farmers, President Abdel Fattah El Sisi had decided to extend grace periods for farmers to pay their debt to the PBDAC until the end of 2015.