{"id":547027,"date":"2022-06-06T04:08:48","date_gmt":"2022-06-06T04:08:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/06\/new-eu-funding-for-food-security-headed-to-silos-agri-smes\/"},"modified":"2022-06-06T04:08:48","modified_gmt":"2022-06-06T04:08:48","slug":"new-eu-funding-for-food-security-headed-to-silos-agri-smes","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/06\/new-eu-funding-for-food-security-headed-to-silos-agri-smes\/","title":{"rendered":"New EU funding for food security headed to silos + agri-SMEs"},"content":{"rendered":"

EU funding to bolster wheat storage capacity, small farmers:<\/strong> The EUR 100 mn in food security funding announced by the EU<\/a> in April will go towards upgrading Egypt\u2019s wheat storage capacity and supporting SMEs in the agricultural sector, EU Commissioner for Neighbourhood and Enlargement Oliv\u00e9r V\u00e1rhelyi said on social media<\/a> last week following his visit to Cairo. Three-quarters of the money will be spent on new siloes that will enable Egypt to store another 300k tons of wheat, and the remaining EUR 25 mn will fund ins. schemes and machinery for small farmers.<\/p>\n

We could receive another USD 117.5 mn for upping storage capacity<\/strong> if the World Bank approves a USD 500 mn food security programme<\/a> that would also allow us to import another 700k tons of wheat.<\/p>\n

SPEAKING OF WORLD BANK SUPPORT- Foreign Minister Sameh Shoukry sat <\/strong>down with visiting WB executives<\/strong> to discuss the potential support the bank could offer to help us get through the volatility spurred by war in Ukraine, according to a Foreign Ministry<\/a> statement. Shoukry laid out at the meeting the government's plan to attract investment, develop the EGX, and help citizens through the crisis, the statement read.<\/p>\n

Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n