Egypt allocates $ 486 million in funding to 17 projects to support food security

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Egypt’s Ministry of International Cooperation announced that ongoing funding worth $ 486 million from bilateral and multilateral development partners has been allocated to 17 projects in the country.

These projects appear to be scattered across 22 locations nationwide and aim to support Egypt’s strategy to achieve United Nations (UN) Sustainable Development Goal 2 to improve food security.

This decision is in line with Egypt’s goals of hunger eradication and food security and the US $ 72.5 million grant to the Ministry of Agriculture that influenced the agro-development project. -industry.

The project focuses on improving the competitiveness and inclusiveness of the Egyptian economy by ensuring growth in certain agricultural areas. It also aims to accelerate private sector engagement, while improving agricultural productivity, agricultural products and crop marketing.

Notably, the Saudi Fund for Development (SFD) provided 427.5 million RS, or about 114 million dollars, to finance the development of grain storage silos in several governorates. In addition, the SFD is financing the development of a SR 362.5 million ($ 96.6 million) water desalination plant to complete the Al-Arish facility in the northern part of the country. Sinai, which has a capacity of 100,000 m3 / day and can be extended to 300,000 m3 / day.

According to the ministry’s APD-SDG map, the development funding available to implement the second SDG includes $ 112 million in non-repayable grants and $ 374 million in guaranteed funding from 11 partners.

Some of the organizations included are FAO (Food and Agriculture Organization), KFAED (Kuwait Fund for Arab Economic Development) and IFAD (International Fund for Agricultural Development). These funds represent 1.89% of the $ 25.6 billion portfolios of the Ministry of International Cooperation.

According to the sources, the Ministry of Housing, Public Services and Urban Communities is committed to implementing a project that achieves the second sustainable development goal of Zero Hunger and also contributes to other important goals.

Source credit https://www.zawya.com/mena/en/economy/story/Egypt_secures_486mln_to_implement_17_Projects_supporting_food_security-SNG_223886533/


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