Egypt and the European Commission have formalized a €90 million (US$93.9 million) agreement to enhance the nation’s food security, the Egyptian Ministry of International Cooperation announced on Monday, March 3.
The funding, provided by the European Investment Bank (EIB), will focus on upgrading Egypt’s grain storage and logistics infrastructure. This initiative is part of the broader Food Resilience Project, which also involves support from the European Union and the World Bank, bringing the total value of grants and financing to €210 million (US$219.3 million).
The agreement will allow Egypt’s General Authority for Supply Commodities (GASC) to improve its wheat importation and storage processes, thereby increasing efficiency.
This marks the second instance this year that GASC has secured financing for wheat imports. The authority had been replaced by the military-affiliated Mostakbal Misr at the end of 2024 as the state grain buyer. In early February, GASC had also signed a US$700 million loan agreement with the Islamic Trade Finance Corporation to support its food security initiatives.
As the world’s largest wheat importer, Egypt relies heavily on wheat for the production of subsidized bread, which is vital for feeding millions of Egyptians.
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