Egypt rolls out QR code certificates for coronavirus vaccination    Many feared dead in terrorist attack in north: Iraq military    Tennis: Djokovic's temper flares up in bronze-medal match loss    Regional forces join offensive against Mozambique extremists    UN warns hunger is expected to rise in 23 global hotspots    Egypt reports 45 new coronavirus cases, 4 deaths on Friday    Vaccinated people can carry as much virus as others: Study    Judo: Japan's Ono loses first bout since 2015    Swimming: US star Dressel wins 3rd goal in Tokyo, sets 100m fly world record    New Chinese investments pumped into SCZone    'Cooperation with Nile Basin countries key pillar of Egypt foreign policy': Irrigation minister    Scarlett Johansson sues Disney over its streaming release of 'Black Widow'    Hatif Libya, U.S. Infinera sign deal to upgrade Libya's fibre optic network    Ethiopia asks Algeria to correct Arab League's 'misperceptions' about GERD    Russia to send delegation to Egypt in August for its mega industrial zone project    Fitch forecasts Egypt's real GDP growth of 5.5% in FY2022/23    Qatar appoints ambassadors to Egypt and Libya    Ethiopia says 2nd GERD filling 'done according to 2015 DoP' with Egypt, Sudan    Over 1600 exporters applied to obtain their arrears through cash repayment initiative's 3rd stage : Finance minister    Egypt's transport start-up SWVL preps for Nasdaq listing after merger with Queen's Gambit    Father builds exoskeleton to help wheelchair-bound son walk    Russian delegation to visit Egypt today for Sharm al-Sheikh, Hurghada security checks    Remembering Roushdy Abaza: Egyptian silver screen's first man    Egypt signs 4 gold exploration deals with Canadian firm    Russia flights to Egypt resorts of Sharm el-Sheikh, Hurghada to resume on August 9    Orange Egypt Introduces Amazon Prime Video    Tokyo Olympics: Cautious opening ceremony, shy start for Egyptians in competitions    Mallawi Museum in Upper Egypt holds recycling workshop for children during Eid Al-Adha    Egypt keen on stable tax policies to attract more investors: Finance Minister    Niagara Falls illuminated in Egyptian flag to mark 23 July Revolution anniversary    Thanaweyya Amma exams resume after Eid Al-Adha holidays    Sudan declares state of emergency as water goes beyond Merowe Dam capacity    Egypt, Japanese Olympic Committee discuss boosting sports cooperation    1 child orphaned every 12 seconds due to COVID-19-associated death: World Bank    Capital flows into EM keep recovering after March 2020 slump: Central Bank of Egypt    US emphasises AU's role in mediating Ethiopian damdispute    Ethiopia ready to resume dam talks with no legally binding agreements: Ethiopian official    Sunken city of Thônis-Heracleion in Egypt's Abu Qir bay yields new archaeological treasures    New films, concerts, and destinations for Eid Al-Adha holidays    Egypt, Oman discuss enhancing bilateral economic, investment relations    Al Ahly v Kaizer Chiefs: Cairo giants eye 10th CAF Champions League title    Etisalat Misr partners with Bassita to contribute to a Cleaner Nile    Tunisia hopes to have a UN role in resolving Egypt-Ethiopia dam dispute    Egypt denounces Ethiopia's move to start second filling of giant dam    APO Group enters new exclusive agreement with Getty Images on African press releases and images    On International Museum Day, Egypt opens two new museums at Cairo Airport    Egypt's Ahly is establishing a new stadium, expected to be 'sports complex'    Old Cairo's Al-Fustat will be revamped on Egyptian President's directives    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Egypt's Planning Minister participates in high-level dialogue on MENA food security
Country's food sector managed to address effects of COVID-19 pandemic, says Hala El-Said
Published in Daily News Egypt on 22 - 06 - 2021

Egypt's Minister of Planning and Economic Development Hala El-Said has participated in a high-level dialogue on food security in the Middle East and North Africa (MENA) region, which took place on Monday.
The World Bank Dialogue, entitled "Food Security in the wake of the COVID-19 crisis: Pathways from crisis to recovery", was held via video conference. It is part of a series of events organised for the Spring Meetings of the World Bank and the International Monetary Fund (IMF).
El-Said spoke about investments and future reforms in the food system in Egypt, with the country's food sector managing to address the effects of the novel coronavirus (COVID-19) pandemic.
The minister also said that the country did not witness a shortage of food or a decline in any of the strategic crops. Egypt was also able to ensure food security for the poorest groups, which was achieved through many financial and monetary measures put in place by the government to cushion the economic impacts of the crisis.
The Egyptian Government undertook a set of measures, including stimulus policies such as a financial package of EGP 100bn at a rate of 1.8% of GDP. This was in addition to the initiatives put in place by the Central Bank of Egypt (CBE), to extend its programme of EGP 100bn to cover lending at preferential rates to the agricultural sector. Cash transfers to the most vulnerable families and groups in Egypt were also expanded.
El-Said said that Egypt's agro-food sector takes into account agriculture and food processing as well as related inputs and trade. The sector makes up around 24.5% of GDP, and 23.2% in the added value of labour in Egypt.
The minister indicated that agriculture and food production are among the most attractive investment opportunities in Egypt. The country also boasts good quality soil and climatic conditions, as well as its geographical location close to the Arab region and Europe, along with its large participation in trade agreements.
She said that the Egyptian Government's launch of the structural reform programme in 2016 focused on raising the productive capacity and competitiveness of the real economy. It had a special focus on industry, information and communication technology (ICT), and agriculture.
Moreover, the programme focused on elements related to food security, such as the green economy, environmental protection, and facing the challenge of an increasing population. It recognises the fact that there is a need to control population growth rates and deal with water scarcity.
Egypt aims to increase the GDP contribution of its agriculture sector to 12% by 2024, in addition to increasing agricultural production by 30% by 2024.
This will create job opportunities in this sector, and increase the income of small farmers, whilst increasing exports. This will take place by doubling the sector's share in exports from 17% in 2020 to 25% in 2024, according to El-Said.
Regarding water management, the minister revealed that the Egyptian Government aims to increase water share through: desalination; conserving water consumption by modernising irrigation technology; improving infrastructure through the renewal of the national network of water canals, at a cost of EGP 80bn; and providing new water sources such as reusing wastewater in agriculture and maximising groundwater use.
El-Said also indicated that the Egyptian Government is implementing a project of land reclamation and cultivation of 1.5 million feddan, to improve food security. It is also adopting a participatory approach to rehabilitating rural areas through one of the largest social protection programmes, the "Decent Life" initiative, which has received investments amounting to $45bn (EGP 700bn).
She explained that the programme, which is looking to cover over 50% of the Egyptian population, aims to modernise rural infrastructure, and provide basic and social services to 4,700 villages.
El-Said reviewed the green economy, and pointed out that Egypt issued green bonds worth $750m for a period of five years. This represents the first sale of these bonds by a government in the MENA region.
The minister added that Egypt's vision is consistent with the global trend, as the global green debt market is expected to rise this year.
She noted that the Climate Bond Initiative expects that global green bonds, loans, and sukuk will reach $400-450bn. This will follow a record growth of the green bond market in 2020, which saw an issuance exceeding $269.5bn.
El-Said added that Egypt faces two main challenges, in addition to the challenge of the novel coronavirus (COVID-19) pandemic, namely climate change and water scarcity.
She added that the private sector represents a major component of national and regional efforts to strengthen food systems. El-Said noted that the role of The Sovereign Fund of Egypt (TSFE) is as a main tool that helps in strengthening the role of the private sector.
The conference was attended by: Ferid Belhaj, Vice President of the World Bank Group for the MENA region; Waed Abdullah Badheeb, Minister of Planning and International Cooperation in Yemen; Elias Moussa Douali, Minister of Economy and Finance in charge of Industry and Planning in Djibouti; and Aziz Akhannouch, Minister of Agriculture, Fisheries, Rural Development, Water and Forests in Morocco.
Other attendees also included: Carola van Rijnsper, Ambassador for Sustainable Development at the Netherlands' Ministry of Foreign Affairs and Director of the Inclusive Green Growth Programme; Clemens Pressinger, President of the International Food Policy Research Institute (IFPRI); and Louis Lahoud, Director-General of the Ministry of Agriculture in Lebanon.

Clic here to read the story from its source.