EGYPT AND EU STRENGTHEN FOOD SECURITY PARTNERSHIP WITH €90M FUNDING DEAL
This initiative will help Egypt safeguard against global supply chain disruptions and geopolitical uncertainties that impact food imports.
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Egypt has secured a new €90 million concessional funding agreement from the European Commission, reinforcing its efforts to modernize grain storage infrastructure and enhance food security.
The deal, which is part of a larger international financing package, is set to boost the country’s capacity to store and distribute essential food commodities, particularly wheat.
The agreement was signed by Egypt’s Minister of Planning, Economic Development and International Cooperation, Rania Al Mashat, and Minister of Supply and Internal Trade, Sherif Farouk, alongside the EU Commissioner for Mediterranean Affairs, Dubravka Šuica, representing the European Investment Bank (EIB).
The financing will be directed towards the Food Resilience Project in Egypt, with funds channeled through the General Authority for Supply Commodities (GASC).
This initiative is crucial in Egypt’s broader strategy to safeguard against global supply chain disruptions and geopolitical uncertainties that impact food imports.
Beyond the EU’s contribution, the project is backed by an additional €100 million grant from the European Union and €110 million in concessional financing from the World Bank.
Al Mashat emphasized that the initiative aligns with Egypt’s long-term vision to position itself as a key regional hub for grain storage and trade.
She highlighted previous collaborations with the World Bank and the African Development Bank, as well as a separate €56.7 million EU grant signed last year to expand wheat storage infrastructure.
Farouk described the project as a ”strategic step” in Egypt’s food security efforts, particularly through modernizing logistics and reducing post-harvest losses. The plan builds on Egypt’s ongoing National Silos Project, which includes constructing additional grain storage facilities like the West Port Said silo, inaugurated in 2021 with a 100,000-ton capacity.
European officials underscored the project’s impact on millions of Egyptians, particularly in vulnerable communities. Gelsomina Vigliotti, Vice President of the EIB, stressed that the investment would “help reduce food losses, strengthen food security and improve bread affordability for millions of Egyptians.” EU Ambassador-Designate Angelina Eichhorst echoed this, reaffirming the EU’s commitment to supporting Egypt’s long-term stability and food resilience.
With this latest agreement, Egypt is set to enhance its ability to import, store, and distribute wheat more efficiently, reinforcing its food security infrastructure amid global economic and geopolitical challenges.
Al Mashat emphasized that the initiative aligns with Egypt’s long-term vision to position itself as a key regional hub for grain storage and trade.
She highlighted previous collaborations with the World Bank and the African Development Bank, as well as a separate €56.7 million EU grant signed last year to expand wheat storage infrastructure.
Farouk described the project as a ”strategic step” in Egypt’s food security efforts, particularly through modernizing logistics and reducing post-harvest losses. The plan builds on Egypt’s ongoing National Silos Project, which includes constructing additional grain storage facilities like the West Port Said silo, inaugurated in 2021 with a 100,000-ton capacity.
European officials underscored the project’s impact on millions of Egyptians, particularly in vulnerable communities. Gelsomina Vigliotti, Vice President of the EIB, stressed that the investment would “help reduce food losses, strengthen food security and improve bread affordability for millions of Egyptians.” EU Ambassador-Designate Angelina Eichhorst echoed this, reaffirming the EU’s commitment to supporting Egypt’s long-term stability and food resilience.
With this latest agreement, Egypt is set to enhance its ability to import, store, and distribute wheat more efficiently, reinforcing its food security infrastructure amid global economic and geopolitical challenges.
