IFAD
In addition to Al-Mashat, the panel included Kevin Kariuki, Vice-President of Power, Energy, Climate and Green Growth, African Development Bank Group (AfDB), Aaron Leopold, CEO of EnerGrow, Esther Penunia, Secretary-General, Asian Farmers’ Association, moderated by Kitty van der Heijden, Director-General for International Cooperation, Ministry of Foreign Affairs, Kingdom of the Netherland.
Seven of those are located in Aswan, while one lies in Beni Suef.
Foreign Minister Sameh Shoukry affirmed on Thursday Egypt’s aspiration for the enhancement of the financial activity of the International Fund for Agricultural Development (IFAD) to support agricultural and rural development projects.
The agreement aims to improve the living standards of Upper Egyptians in Minya, Assiut, and Sohag. It supports them to face water scarcity and climate change impacts in the future.
IFAD has been involved in Egypt for over four decades, and the portfolio to date is 14 projects worth $1.1 billion.
IFAD has financed rural development projects in Egypt, with a total value of $ 1.12 billion, targeted nearly 1.5 million Egyptian rural beneficiaries since 1979.
IFAD has financed rural development projects in Egypt, with a total value of $ 1.12 billion, targeted nearly 1.5 million Egyptian rural beneficiaries since 1979.
To assess the impact of the Coronavirus (COVID-19) pandemic on farmers in Egypt, the largest recipient of IFAD financing assistance in the Middle East, Egypt Today has interviewed IFAD Country Program Manager for Egypt Mohamed Elghazaly.
An estimated 63 percent of the world’s poor people work in agriculture, the overwhelming majority on rural small farms.
It has been agreed that at least half of the funding received will support rural development projects in sub-Saharan Africa, and more than a quarter will be channelled to countries facing conflict or other fragile situations.
In terms of eradicating poverty and hunger to millions of people under his leadership, IFAD will double its efforts to ensure 40 million people per year increase their incomes by at least 20 percent by 2030, which is double what IFAD currently achieves.
President Abdel Fatah al-Sisi asked the prime minister and the minister of agriculture to expand the scope of a water and agricultural project well into the Western Desert in cooperation with the International Fund For Agricultural Development (IFAD).
Minister of International Cooperation, Dr. Rania Al-Mashat, met with Dr. Dina Saleh, the Regional Director for the Near East, North Africa and Europe at the International Fund for Agricultural Development (IFAD) of the United Nations, to discuss expanding projects and outlining future areas of cooperation to enhance food and nutrition security and support resilient livelihoods.
The Minister reviewed Egypt’s agricultural development projects in cooperation with IFAD, saying that a total of 13 projects have been funded by the IFAD at a cost of $830 million, including 10 completed projects and three ongoing ones
The IFAD estimated that the global remittances to developing countries could fall by US$110 billion in 2020 as a result of the outbreak of COVID-19.
The newly-allocated money aims at enhancing the state’s food security and rationalizing the food imports, amid the crisis of the novel coronavirus, COVID-19, pandemic.
According to the World Food Programme, 265 million people would suffer from hunger by the end of this year due to the coronavirus pandemic.
‘The crisis also drove structural reform relating to social protection, unofficial labor and financial inclusiveness,” she noted.
The Fund provides to Egypt, pursuant to this agreement, a loan amounting to €53.2 million, and a grant of €860,000 euros.
On the sidelines of Davos 2020, Minister of International Cooperation Rania al-Mashat held meetings with heads of UN organizations to discuss plans.
Most Read
