{"id":74584,"date":"2022-11-01T01:52:31","date_gmt":"2022-11-01T01:52:31","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2022\/11\/01\/egypt-lands-usd-2-bn-loan-to-shore-up-food-security\/"},"modified":"2022-11-01T01:52:31","modified_gmt":"2022-11-01T01:52:31","slug":"egypt-lands-usd-2-bn-loan-to-shore-up-food-security","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2022\/11\/01\/egypt-lands-usd-2-bn-loan-to-shore-up-food-security\/","title":{"rendered":"Egypt lands USD 2 bn loan to shore up food security"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Egypt will receive USD 2 bn to boost food security:<\/strong> The UN\u2019s International Fund for Agricultural Development (<a href=\"https:\/\/www.ifad.org\/en\/\">IFAD<\/a>) is providing Egypt with a USD 2 bn loan to boost investment in food, energy, and water, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-31\/egypt-will-get-2-billion-from-ifad-to-boost-its-food-security#xj4y7vzkg\">Bloomberg<\/a>reports. The funds will be provided to the Egyptian government until 2030.<\/p>\n<p><strong>Where is the money going?<\/strong> The funds will be disbursed through a new program \u2014 the Nexus of Water, Food and Energy (<a href=\"https:\/\/www.youm7.com\/story\/2022\/7\/11\/%D9%85%D8%A7-%D9%87%D9%88-%D8%A8%D8%B1%D9%86%D8%A7%D9%85%D8%AC-%D9%86%D9%88%D9%81%D9%89-%D9%84%D8%AC%D8%B0%D8%A8-%D8%A7%D9%84%D8%AA%D9%85%D9%88%D9%8A%D9%84%D8%A7%D8%AA-%D9%88%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D9%84%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D8%A7%D8%AA-%D8%A7%D9%84%D8%AA%D9%86%D9%85%D9%8A%D8%A9-%D8%A7%D9%84%D8%AE%D8%B6%D8%B1%D8%A7%D8%A1\/5833497\">NWFE<\/a>) \u2014 that\u2019s <a href=\"https:\/\/www.sis.gov.eg\/Story\/169930\/Egypt-aspires-to-present-success-story-in-COP27?lang=en-us\">set to be unveiled<\/a> at COP27. IFAD will \u201clead coordination\u201d of the food part of the program, which is set to target \u201cproduction, food storage and food transportation\u201d and will connect markets with \u201csmallholder\u201d farmers, Bloomberg cited IFAD President Alvario Lario as saying in an interview last week. The European Bank for Reconstruction and Development (<a href=\"https:\/\/www.ebrd.com\/\">EBRD<\/a>) will oversee the <a href=\"https:\/\/enterprise.press\/stories\/2022\/10\/20\/what-to-expect-from-ebrd-at-cop27-84607\/\">energy part<\/a> of the program and the African Development Bank (<a href=\"https:\/\/www.afdb.org\/en\">AfDB<\/a>) will oversee water, Bloomberg added. The EBRD is pledging USD 1 bn to the private sector to support bringing 10 GW of renewable energy online, and another USD 300 mn in concessional or IFI financing to support the grid, EBRD Egypt head Khalid Hamza <a href=\"https:\/\/enterprise.press\/stories\/2022\/10\/20\/what-to-expect-from-ebrd-at-cop27-84607\/\">told EnterpriseAM<\/a> in October.<\/p>\n<p><strong>The funds will target small-scale, rural farmers in Egypt<\/strong>, Bloomberg noted. Small-scale farmers currently receive only 1.7% of global climate finance, though they produce one-third of the world\u2019s food, it added, citing IFAD.<\/p>\n<p><strong>Background:<\/strong> NWFE is the mechanism by which Egypt\u2019s International Cooperation Ministry will promote its pipeline of low-carbon projects to investors, <a href=\"https:\/\/enterprise.press\/stories\/2022\/08\/21\/this-morning-introducing-our-newest-pillar-advertiser-a-lot-of-climate-events-are-taking-place-this-week-78525\/\">EnterpriseAM reported<\/a> in August. It <a href=\"https:\/\/enterprise.press\/stories\/2022\/09\/08\/ebrd-could-commit-usd-1-3-bn-to-egypt-clean-energy-projects-80700\/\">got props<\/a> from US climate envoy John Kerry for having \u201cthe potential to attract bns in investments from donor governments, philanthropy, development finance institutions and the private sector.\u201d<\/p>\n<p><strong>IN CONTEXT- Climate change has hit Egypt\u2019s agriculture sector hard recently: <\/strong>Egypt\u2019s olive production fell by some 60-80% last season thanks to an unusually warm 2020-2021 winter, while the long 2021-2022 winter adversely affected the crop\u2019s pollination and pruning process, local farmers <a href=\"https:\/\/enterprise.press\/greeneconomys\/the-year-so-far-in-agriculture\/\">told EnterpriseAM<\/a>. Mango production took a 40% hit <a href=\"https:\/\/enterprise.press\/greeneconomys\/climate-change-hitting-egypts-mango-olive-farmers\/\">last year<\/a> on the back of a Ramadan heatwave, though it recovered in 2022. <a href=\"https:\/\/enterprise.press\/greeneconomys\/climate-change-is-threatening-the-future-of-our-dairy-farms\/\">Egypt\u2019s dairy industry<\/a> has been hit by climate change-induced extreme heat \u2014 which affects the growth, milk production, and reproductive rates of cattle, and growing conditions for livestock feed. And even honey production has taken a knock, with one local farmer estimating that it fell to about half its usual rate <a href=\"https:\/\/enterprise.press\/greeneconomys\/climate-change-putting-egypts-honey-industry-threat\/\">this year<\/a>.<\/p>\n<p><strong>ON A WIDER SCALE- Global farming productivity is expected to decline by some 15%<\/strong><strong> globally by 2050 due to rising temperatures and weather instability<\/strong>, <a href=\"https:\/\/www.fao.org\/neareast\/news\/view\/en\/c\/1530039\/\">according to<\/a> the UN Food and Agriculture Organization.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egypt will receive USD 2 bn to boost food security: The UN\u2019s International Fund for Agricultural Development (IFAD) is providing Egypt with a USD 2 bn loan to boost investment in food, energy, and water, Bloombergreports. The funds will be provided to the Egyptian government until 2030. Where is the money going? The funds will [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":74585,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[443],"tags":[297,707,531,11,931,164,1188,1189],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-74584","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-climate-finance","tag-afdb","tag-agriculture","tag-climate-finance","tag-enterpriseclimate","tag-european-bank-for-reconstruction-and-development","tag-green-finance","tag-international-fund-for-agricultural-development","tag-nexus-of-water-food-and-energy","wpautop","entry"],"acf":{"mongo_id":"490dcee3-c66d-4b13-bd9c-2c1dc33c55d6","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/9\/136.jpg","photo_position":"above","related_issue":[74576],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt lands USD 2 bn loan to shore up food security - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/01\/egypt-lands-usd-2-bn-loan-to-shore-up-food-security\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt lands USD 2 bn loan to shore up food security\" \/>\n<meta property=\"og:description\" content=\"Egypt will receive USD 2 bn to boost food security: The UN\u2019s International Fund for Agricultural Development (IFAD) is providing Egypt with a USD 2 bn loan to boost investment in food, energy, and water, Bloombergreports. The funds will be provided to the Egyptian government until 2030. Where is the money going? The funds will [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/01\/egypt-lands-usd-2-bn-loan-to-shore-up-food-security\/\" \/>\n<meta property=\"og:site_name\" content=\"Climate\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-01T01:52:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/136.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2022\/11\/01\/egypt-lands-usd-2-bn-loan-to-shore-up-food-security\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2022\/11\/01\/egypt-lands-usd-2-bn-loan-to-shore-up-food-security\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt lands USD 2 bn loan to shore up food security\",\"datePublished\":\"2022-11-01T01:52:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2022\/11\/01\/egypt-lands-usd-2-bn-loan-to-shore-up-food-security\/\"},\"wordCount\":429,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2022\/11\/01\/egypt-lands-usd-2-bn-loan-to-shore-up-food-security\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/136.jpg?fit=%2C&ssl=1\",\"keywords\":[\"AfDB\",\"agriculture\",\"climate finance\",\"EnterpriseClimate\",\"European Bank for Reconstruction and Development\",\"green finance\",\"International Fund for Agricultural Development\",\"Nexus of Water Food and Energy\"],\"articleSection\":[\"CLIMATE FINANCE\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2022\/11\/01\/egypt-lands-usd-2-bn-loan-to-shore-up-food-security\/\",\"url\":\"https:\/\/enterpriseam.com\/climate\/2022\/11\/01\/egypt-lands-usd-2-bn-loan-to-shore-up-food-security\/\",\"name\":\"Egypt lands USD 2 bn loan to shore up food security - 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