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.
The House of Representatives approved Monday a €53 million loan and €860,000 grant agreement to promote resilience in desert environments.
Sisi met on Monday with Head of the International Fund for Agricultural Development (IFAD) Gilbert Houngbo, according to Presidency spokesperson Bassam Rady.
The project was signed by Minister of Investment and International Cooperation Sahar Nasr, and Head of the International Fund for Agricultural Development (IFAD) Gilbert Houngbo in Rome.
The minister clarified in a statement that the total cost of these programs and projects hit $829.1 million.
Egyp's Minister of Agriculture said that IFAD is playing an important role in Egypt in fighting poverty.
In light of Egypt’s latest participation in the ninth annual BRICS summit in September, President of Brazil-Africa Institution discussed potential cooperation.
The two-day conference aims to share and exchange the expertise and innovative solutions to eradicate rural poverty worldwide.
The fund will be used in a project to compile rainwater to benefit from it in agriculture projects.