Egypt and the European Union finalized a financing deal worth € 40 M to strengthen Egypt’s food security efforts, which will be carried out by the Italian Agency for Development Cooperation (IADC), according to a statement issued by the Ministry of International Cooperation.
The IADC will collaborate with the Ministry of Agriculture to increase access to certified seeds and agricultural mechanization, valued at € 25 M.
In collaboration with the Ministry of Supplies, the IADC will construct field silos and complete a wheat information control system worth 15 M euros.
The grant is part of a € 100 M grant from the “European Union’s Support for Food Security in Egypt” initiative.
Meanwhile, Initiatives involving the remaining funds are being discussed.
“The grant comes in light of Egypt’s efforts through development cooperation with multilateral and bilateral development partners to address food security challenges resulting from the Russian-Ukrainian war, stimulate climate resilience, and increase strategic grain storage capacities,” said Rania Al-Mashat, Minister of International Cooperation.
The deal also includes funding the breeding programs and the development of high-yielding varieties of important crops, as well as funding agricultural mechanization and increasing food security flexibility.
Egypt and the EU have a development cooperation portfolio of around €1.3 bn, with projects supported through European funding mechanisms such as bilateral and regional cooperation and blended finance systems.
