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.
Diplomatic efforts to end the Iran war are intensifying, with the White House confirming that U.S. President Donald Trump will send special envoy S...
Donald Trump’s special envoy Steve Witkoff and senior adviser Jared Kushner will travel to Islamabad on Saturday for Pakistan-mediated talks ...
Iran is pursuing a dual-track strategy in the Strait of Hormuz, balancing cooperation with South Korea while increasing military pressure, as tensi...
Around 14% of Central Asia’s population - about 12 million people - are facing food shortages, according to the United Nations. The...
The U.S. and the European Union are set to sign a memorandum of understanding on Friday to establish a partnership on the procurement and productio...
The International Organization for Migration (IOM) warns that nearly four million people have returned to Sudan in recent months, hoping to rebuild their lives, but without urgent investment in basic services and infrastructure, these returns risk becoming unsustainable.
At a time of deepening global polarisation, rising conflict and shrinking space for dialogue, Pakistan is stepping into a historic role. Diplomatic engagements in Islamabad, bringing together regional powers amid the Iran crisis, signal both urgency and opportunity.
Iran’s Permanent Mission to the United Nations in New York has warned that U.S. President Donald Trump’s threat to attack civilian infrastructure risks dragging the region into an “endless war,” calling for immediate action by the world body.
Egypt’s President Abdel Fattah al-Sisi on Monday urged U.S. President Donald Trump to intervene in the escalating Gulf conflict, warning that only he could prevent it from spreading further.
The U.S. military has intercepted at least three Iranian-flagged tankers in Asian waters and is redirecting them away from their positions near India, Malaysia and Sri Lanka, shipping and security sources said on Wednesday, exclusively to Reuters.
Two local trains collided head-on north of Copenhagen on Thursday (23 April), injuring 17 people, five of them critically, according to emergency services.
The U.S. military is redirecting at least three Iranian-flagged tankers after intercepting them in Asian waters near India, Malaysia and Sri Lanka, shipping and security sources said on Wednesday. Meanwhile, Tehran said U.S. breaches, blockades and threats are undermining “genuine negotiations.”
Diplomatic efforts to end the Iran war are intensifying, with the White House confirming that U.S. President Donald Trump will send special envoy Steve Witkoff and adviser Jared Kushner to Islamabad for talks with Iran under Pakistani mediation.
The European Union is preparing its 20th round of sanctions against Russia over the war in Ukraine. The measures are close to being approved, after earlier delays linked to energy concerns in Slovakia and Hungary eased following repairs to the Druzhba oil pipeline.
China has urged the European Union to take its concerns seriously over new cybersecurity and digital regulations, warning they could create difficulties for Chinese companies operating in Europe.
Russia and Ukraine have swapped prisoners of war, according to officials on both sides. Ukraine’s President Volodymyr Zelenskyy said 193 prisoners, including soldiers and border guards, had been returned from Russia, some injured and facing criminal charges.
Türkiye and the United Kingdom on Thursday signed a wide-ranging strategic partnership agreement to boost bilateral cooperation, especially in defence. The deal, signed in London, signals a “new era” in relations between the two NATO allies.
The U.S. and the European Union are set to sign a memorandum of understanding on Friday to establish a partnership on the procurement and production of critical minerals, the U.S. State Department confirmed late on Thursday.
Russian emergency services have contained a major fire at the Tuapse oil refinery on the Black Sea coast, local officials said on Thursday, ending a four-day effort after a Ukrainian drone strike.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment