Egypt and the European Commission have signed a soft funding agreement worth 90 million euros (approximately $93.9 million) to enhance food security in the country, according to Egypt’s Ministry of International Cooperation.
The funding, provided by the European Investment Bank (EIB), is aimed at improving Egypt's grain storage and logistics infrastructure under the broader Food Resilience Project.
The initiative is designed to strengthen the capacity of the General Authority for Supply Commodities (GASC) to import and store wheat more efficiently. Wheat, a critical commodity for Egypt, is predominantly used to produce subsidized bread for millions of Egyptians, making it a cornerstone of the nation's food security efforts. Egypt remains the world's top wheat importer, and improved infrastructure is expected to help stabilize supplies and manage imports more effectively.
This agreement is part of a larger package of support that includes an additional 210 million euros in grants and financing from the European Union and the World Bank. Earlier this year, on February 4, GASC secured a $700 million loan agreement with the Islamic Trade Finance Corporation to further bolster its food security initiatives. Notably, this is the second instance this year that GASC has received financing for wheat imports, despite the organization being replaced as the state grain buyer by the military-affiliated Mostakbal Misr at the end of last year.
The funding deal underscores the commitment of both Egypt and its international partners to enhancing food resilience in the face of ongoing challenges in global supply chains. The investment in grain storage and logistics is seen as a key step towards ensuring stable food supplies and supporting the country's broader economic stability.
As Egypt continues to navigate its status as a major wheat importer, initiatives like this soft funding agreement are critical in securing the nation's food supply and protecting the livelihoods of millions who depend on affordable staple foods.
Slovak Prime Minister Robert Fico has warned that efforts to escalate the Ukraine war could trigger a direct conflict between NATO and Russia, sayi...
A small container of lunar soil travelled more than 380,000 kilometres from the far side of the Moon to Earth t...
Russian authorities have reported attacks on voting systems and communication lines as the country’s parliamentary election entered its secon...
Iran's Revolutionary Guards Navy said a Togo-flagged oil tanker was struck while attempting to make an “illegal passage” through the Strait of Hormuz, Iranian state media said early on Friday.
Saudi civil defence sent an all-clear on Saturday after issuing alerts for a second time for potential danger in Riyadh and the city of Al-Kharj east of the capital, amid an uptick in attacks by Iran-aligned Houthis on the Gulf country.
The European Union will disburse €3.3 billion ($3.8 billion) to Ukraine for missiles and drones, European Commission President Ursula von der Leyen said after a phone call with Ukrainian President Volodymyr Zelenskyy.
The U.S. State Department approved a $2.7 billion military sale to Ukraine for air-defence development upgrades, along with related equipment and services, the department said. Meanwhile, Ukrainian authorities reported at least 10 people had died in Russian attacks over the last 24 hours.
Here's your AnewZ Daily Brief for 18 September 2026. These are the top five stories making headlines in the field of science.
A small container of lunar soil travelled more than 380,000 kilometres from the far side of the Moon to Earth two years ago. It recently made one more journey - from Beijing to Vienna, where China officially handed it over to the United Nations.
Russian authorities have reported attacks on voting systems and communication lines as the country’s parliamentary election entered its second day on Saturday (19 September).
Ukrainian President Volodymyr Zelenskyy has launched a new eight-nation grouping aimed at boosting trade, energy and security cooperation across central and eastern Europe. Here's what you need to know.
Slovak Prime Minister Robert Fico has warned that efforts to escalate the Ukraine war could trigger a direct conflict between NATO and Russia, saying Slovakia will not send soldiers or support what he called an “irresponsible military adventure.”
The U.S. State Department approved a $2.7 billion military sale to Ukraine for air-defence development upgrades, along with related equipment and services, the department said. Meanwhile, Ukrainian authorities reported at least 10 people had died in Russian attacks over the last 24 hours.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment