Egypt has secured €90 million in concessional financing from the European Investment Bank (EIB) to strengthen food security. The loan agreement was signed during the visit of European Union Commissioner for Mediterranean Affairs Dubravka Šuica to Cairo, highlighting ongoing cooperation between Egypt and the EU in addressing food resilience challenges. The funding will support the Egypt Food Resilience Project, overseen by the country's state-run General Authority for Supply Commodities (GASC). In addition to the EIB loan, the project will also receive a €100 million grant from the European Union and €110 million in concessional financing from the World Bank, further reinforcing Egypt's food security efforts. The project focuses on modernising and expanding Egypt's grain storage and logistics infrastructure, strengthening the national silos project, and enhancing supply chain efficiency. It also includes GASC's procurement of imported wheat from international markets for milling, ensuring greater stability in the country's food supply system. Attribution: Amwal Al Ghad English Subediting: Y.Yasser
