{"id":626368,"date":"2024-07-01T00:00:00","date_gmt":"2024-07-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/01\/egypt-receives-eur-57-mn-grant-to-boost-its-silo-capacity\/"},"modified":"2024-07-01T00:00:00","modified_gmt":"2024-07-01T00:00:00","slug":"egypt-receives-eur-57-mn-grant-to-boost-its-silo-capacity","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/01\/egypt-receives-eur-57-mn-grant-to-boost-its-silo-capacity\/","title":{"rendered":"Egypt receives EUR 57 mn grant to boost its silo capacity"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt secures fresh funds to expand <\/strong><strong>silo capacity: <\/strong>The French Development Agency (AFD) will provide us with a EUR 56.7 mn grant to help expand the country\u2019s field silo capacity, Supply Minister Ali El Moselhy said on the sidelines of the Egypt-EU Investment Conference, which was confirmed by a later International Cooperation Ministry statement. MPs gave <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7e898bc6-7f2c-405b-9ced-30629d53c1cc\/more-funds-to-help-us-expand-our%253cmark%253e-silo%253c%2Fmark%253e-capacity\" style=\"\" rel=\"noopener\">final approval<\/a> to the grant in late January.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The grant will help the state build over 20 new field silos over the coming 12-14 months, targeting governorates known for their high wheat production like Minya, Sharqia, and Dakahlia, El Moselhy added. The expanded capacity will help the state cut down on waste and increase the efficiency of local wheat trade. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The Supply Ministry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/071aec1d-f26b-4a72-9c25-e3a460f679da\/the-supply-ministry-wants-less-imported%253cmark%253e-wheat%253c%2Fmark%253e-and-more-local%253cmark%253e-wheat%253c%2Fmark%253e.-plus:-news-from-hsbc-and-mountain-view\" style=\"\" rel=\"noopener\">slashed its wheat import targets<\/a> for 2024 in June as it works to increase its purchases of local wheat. The ministry wants to procure around 3.7 mn tons of local wheat, up from an initial target of 3.5 mn tons, and is aiming to import some 5 mn tons of wheat, down from its initial target of 6 mn tons.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Sugar on the EMX and wheat set to return? <\/strong>The Egyptian Mercantile Exchange (EMX) could begin offering wheat and sugar before the end of the year, El Moselhy added. The Supply Ministry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e6e62961-a42a-423a-aae2-b9243afab25b\/hedging-is-off-the-table-for-wheat-contracts---el-moselhi\" style=\"\" rel=\"noopener\">temporarily halted wheat trading<\/a> on the EMX in January \u201cdue to crazed price speculations and bids by some traders,\u201d with plans to return the commodity once these issues had settled.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Sugar export ban extended once again:<\/strong> The government has extended its ban on sugar exports for another three months starting today, El Moselhy added. The ban, which will run through September 2024, exempts surplus quantities beyond local market needs and will be the third extension since <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a48ac77-0c93-4364-bc1f-c6abf5bea2ed\/the-future-of-the-madbouly-cabinet-in-question-%2B-election-results-are-out-tomorrow\" style=\"\" rel=\"noopener\">December<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The grant will help Egypt expand its storage capacity and eliminate waste<\/p>\n","protected":false},"author":1,"featured_media":626369,"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":[7305],"tags":[317,101,72,2588,8258,563],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-626368","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commodities","tag-commodities","tag-development-finance","tag-enterpriseam","tag-french-development-agency","tag-sugar","tag-wheat","wpautop","entry"],"acf":{"mongo_id":"95ad1bae-f3ab-4b1f-91e3-173850d193d5","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/10.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt receives EUR 57 mn grant to boost its silo capacity","related_issue":[626355],"teaser":"The grant will help Egypt expand its storage capacity and eliminate waste","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.828bc3b1-431f-40a2-b023-ae2febdd0318.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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Supply Minister Ali El Moselhy discussed the potential direct purchase in a meeting with\u2026","rel":"","context":"In &quot;Commodities&quot;","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/wheat-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":608762,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/25\/cabinet-renews-upcoming-samurai-issuance-approval-renewable-energy-decisions\/","url_meta":{"origin":626368,"position":2},"title":"Cabinet renews upcoming Samurai issuance approval, renewable energy decisions","author":"enterpriseam admin","date":"25 October 2023","format":false,"excerpt":"The Finance Ministry is prepping a USD 500 mn JPY-denominated bond issuance for next month","rel":"","context":"In &quot;Cabinet watch&quot;","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1249.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":617822,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/28\/foreign-investors-ink-usd-353-mn-worth-of-industrial-projects\/","url_meta":{"origin":626368,"position":3},"title":"Foreign investors ink USD 353 mn worth of industrial projects","author":"enterpriseam admin","date":"28 March 2024","format":false,"excerpt":"Egypt signed three separate industrial investment agreements with companies from China, Poland, and France","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2535.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":647441,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/10\/govt-to-increase-wheat-silo-storage-capacity-next-fiscal-year\/","url_meta":{"origin":626368,"position":4},"title":"Gov\u2019t to increase wheat silo storage capacity next fiscal year","author":"enterpriseam admin","date":"10 May 2017","format":false,"excerpt":"The Planning Ministry says the government is working on increasing Egypt\u2019s wheat silo storage capacity to 3.13 mn tonnes by FY2017-18, according to Reuters\u2019 Arabic service. The silo capacity was 1.528 mn tonnes in FY2015-16, the ministry said, and the increase is aimed at creating strategic grain reserves domestically. The\u2026","rel":"","context":"In &quot;Basic Materials + Commodities&quot;","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":587172,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/23\/eu-afd-to-disburse-new-funds-for-egypt-grain-silos-plus-new-xylem-water-pump-factory\/","url_meta":{"origin":626368,"position":5},"title":"EU + AFD to disburse new funds for Egypt grain silos. 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