{"id":546588,"date":"2022-05-22T03:45:31","date_gmt":"2022-05-22T03:45:31","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/22\/african-development-bank-to-lend-usd-1-5-bn-to-african-farmers-to-stem-food-crisis\/"},"modified":"2022-05-22T03:45:31","modified_gmt":"2022-05-22T03:45:31","slug":"african-development-bank-to-lend-usd-1-5-bn-to-african-farmers-to-stem-food-crisis","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/22\/african-development-bank-to-lend-usd-1-5-bn-to-african-farmers-to-stem-food-crisis\/","title":{"rendered":"African Development Bank to lend USD 1.5 bn to African farmers to stem food crisis"},"content":{"rendered":"

<\/a> The African Dev<\/strong>elopment Bank has approved a USD 1.5 bn facility to help African c<\/strong>ountries avert a \u201clooming food crisis,\u201d<\/strong> the lender announced in a statement<\/a>. AfDB will provide 20 mn African smallholder farmers with seeds and fertilizers to help them produce around 38 mn tons of food, it said. The continent is facing a shortage of at least 30 mn tons of food, including staples such as wheat, corn and soybeans which are usually imported from Russia and Ukraine. The lender did not specify which countries will be included in the plan. This came a couple of days after the World Bank announced<\/a> it would deploy another USD 12 bn towards preventing a global food emergency, taking its total funding for food security projects over the next 15 months to USD 30 bn.<\/p>\n

Expect an ECB rate hike in July, Lagarde says: <\/strong>The European Central Bank may raise interest rates in July to tackle inflation, despite rising concerns about an oncoming recession in the eurozone, bank chief Christine Lagarde said at the weekend. (Bloomberg<\/a>)<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/use><\/svg><\/p>\n<\/td>\n\n

EGX30 <\/strong><\/p>\n<\/td>\n

\n

10,550<\/p>\n<\/td>\n

\n

+0.8% (YTD: -11.7%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CBE)<\/strong><\/p>\n<\/td>\n

\n

Buy 18.22<\/p>\n<\/td>\n

\n

Sell 18.31<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD at CIB<\/strong><\/p>\n<\/td>\n

\n

Buy 18.24<\/p>\n<\/td>\n

\n

Sell 18.31<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Interest rates CBE<\/strong><\/p>\n<\/td>\n

\n

11.25% deposit<\/p>\n<\/td>\n

\n

12.25% lending<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Tadawul<\/strong><\/p>\n<\/td>\n

\n

12,428<\/p>\n<\/td>\n

\n

-2.2% (YTD: +10.2%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

ADX<\/strong><\/p>\n<\/td>\n

\n

9,934<\/p>\n<\/td>\n

\n

+0.9% (YTD: +17.0%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

DFM<\/strong><\/p>\n<\/td>\n

\n

3,393<\/p>\n<\/td>\n

\n

+0.1% (YTD: +6.2%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P 500<\/strong><\/p>\n<\/td>\n

\n

3,901<\/p>\n<\/td>\n

\n

0.0% (YTD: -18.1%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

FTSE 100<\/strong><\/p>\n<\/td>\n

\n

7,390<\/p>\n<\/td>\n

\n

+1.2% (YTD: +0.1%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Euro Stoxx 50<\/strong><\/p>\n<\/td>\n

\n

3,657<\/p>\n<\/td>\n

\n

+0.5% (YTD: -14.9%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Brent crude<\/strong><\/p>\n<\/td>\n

\n

USD 112.55<\/p>\n<\/td>\n

\n

+0.5%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n

\n

USD 8.08<\/p>\n<\/td>\n

\n

-2.7%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Gold<\/strong><\/p>\n<\/td>\n

\n

USD 1,848.40<\/p>\n<\/td>\n

\n

0.0%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

BTC<\/strong><\/p>\n<\/td>\n

\n

USD 29,316<\/p>\n<\/td>\n

\n

+0.5% (YTD: -36.4%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

THE CLOSING BELL-<\/strong><\/p>\n

The EGX30 rose 0.8% at Thursday\u2019s close<\/strong> on turnover of EGP 693 mn (19.8% below the 90-day average). Regional investors were net buyers. The index is down 11.7% YTD.<\/p>\n

In the green: <\/strong>CIB (+2.9%), Orascom Construction (+2.9%) and Egypt Kuwait Holding-EGP (+2.9%).<\/p>\n

In the red: <\/strong>MM Group (-3.3%), GB Auto (-2.1%) and AMOC (-2.1%).<\/p>\n","protected":false},"excerpt":{"rendered":"

The African Development Bank has approved a USD 1.5 bn facility to help African countries avert a \u201clooming food crisis,\u201d the lender announced in a statement. AfDB will provide 20 mn African smallholder farmers with seeds and fertilizers to help them produce around 38 mn tons of food, it said. The continent is facing a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","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":[7210],"tags":[1376,1919,72,725,119,565,349,724,122],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546588","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-african-development-bank","tag-christine-lagarde","tag-enterpriseam","tag-european-central-bank","tag-financial-markets","tag-food-security","tag-interest-rates","tag-monetary-policy","tag-planet-finance","wpautop","entry"],"acf":{"mongo_id":"dbe3551d-6f2c-4b02-9342-4b3e49b6ee7a","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[546563],"teaser":"","voice_url":""},"yoast_head":"\nAfrican Development Bank to lend USD 1.5 bn to African farmers to stem food crisis - EnterpriseAM Egypt<\/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\/egypt\/2022\/05\/22\/african-development-bank-to-lend-usd-1-5-bn-to-african-farmers-to-stem-food-crisis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"African Development Bank to lend USD 1.5 bn to African farmers to stem food crisis\" \/>\n<meta property=\"og:description\" content=\"The African Development Bank has approved a USD 1.5 bn facility to help African countries avert a \u201clooming food crisis,\u201d the lender announced in a statement. 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The bank will provide a USD 500 mn facility earmarked for electricity projects over two\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":610031,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/14\/afreximbank-extends-usd-3-bn-in-credit-facilities-to-egyptian-firms\/","url_meta":{"origin":546588,"position":1},"title":"Afreximbank extends USD 3 bn in credit facilities to Egyptian firms","author":"enterpriseam admin","date":"14 November 2023","format":false,"excerpt":"The lender is giving Hassan Allam Holding a USD 200 mn facility to support its infrastructure projects in Africa","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/714.jpeg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":552288,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/24\/african-food-security-is-coming-under-further-pressure-from-surging-fertilizer-prices\/","url_meta":{"origin":546588,"position":2},"title":"African food security is coming under further pressure from surging fertilizer prices","author":"enterpriseam admin","date":"24 August 2022","format":false,"excerpt":"The sky-high cost of fertilizer is pushing farmers to the brink and further straining African food security: Fertilizer prices have increased by at least 30% since the start of 2022, besides another 80% surge registered last year, according to World Bank figures. These rising prices pose significant challenges for food\u2026","rel":"","context":"In "FOOD SECURITY"","block_context":{"text":"FOOD SECURITY","link":"https:\/\/enterpriseam.com\/egypt\/category\/food-security\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/587.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":674905,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/11\/05\/koreas-hl-to-set-up-usd-12-mn-plant-in-qantara\/","url_meta":{"origin":546588,"position":3},"title":"Korea\u2019s H&L to set up USD 12 mn plant in Qantara","author":"enterpriseam admin","date":"5 November 2025","format":false,"excerpt":"PLUS- Travco Group plans to invest USD 1.5 bn in 2026 to open ten new hotels across Egypt, Morocco, and several African countries","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/11\/311.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":648354,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/02\/egypt-receives-second-tranche-of-the-usd-1-5-bn-afdb-loan\/","url_meta":{"origin":546588,"position":4},"title":"Egypt receives second tranche of the USD 1.5 bn AfDB loan","author":"enterpriseam admin","date":"2 April 2017","format":false,"excerpt":"Egypt has received a USD 500 mn tranche of the USD 1.5 bn African Development Bank loan (AfDB), Investment and International Cooperation Minister Sahar Nasr announced on Friday. 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