Mohieldin also stressed the need to promote long-term investments to support investable and bankable projects, especially in sectors that are difficult to direct investents to, praising the concessional financing policies of the International Development Agency (IDA).
The new initiative is targeting the food security in the most countries vulnerable to climate change impacts, the OP27 said in a statement.
Malpass pointed out that developing countries face difficult expectations regarding the rise in food, fertilizer and energy prices.
The Egyptian state seeks to increase production, achieve food security, and increase the strategic stock of strategic goods, said Engineer Abdel Moneim Khalil, the head of the Internal Trade Sector at the Ministry of Supply.
Worth $500 million, the deal is meant to boost Egypt’s efforts to help achieve food security and to strengthen the Egyptian economy in the face of repercussions of the war currently going on in Europe.
The president made two other instructions pertaining to social safety.
Egypt and Jordan had agreed to draft, and activate - within one month - a joint action plan in the realm of food security.
The new plan will be carried out in cooperation with the private sector, the statement said, adding that the two countries agreed to activate the memorandum of understanding on operating and developing the Jordanian- Egyptian logistic areas. The MoU was signed on the sideline of meeting of the High Egyptian-Jordanian Joint committee in February in Cairo, the statement noted.
The Emergency Food Security and Resilience Support Project will help cushion the impact of the war in Ukraine on food and nutrition security in Egypt.
President Abdel Fatah al-Sisi held a meeting Sunday with Prime Minister Mostafa Madbouli, Minister of Agriculture and Land Reclamation Al Sayed al-Qusair, and Chairman of the Suez Canal Authority Osama Rabie.
Mashat pointed out that the government is keen on developing the agricultural and ICT sectors, which were included in the second phase of the national structural reform program.
The main objective of applying the agriculture strategy by horizontal and vertical expansion is to achieve food security.
Both sides also discussed the impacts of climate change and the Ukrainian war on the agricultural and food security sectors in Egypt, FAO-Egypt on its official Twitter account on Sunday.
Food security is in the heart of Egypt’s 2030 Vision as national security issue, and is working on expanding agricultural land, reduce import, and adapt to climate change, Minister of Agriculture Assayed al-Qasir said Thursday.
A foreign war has exposed Africa’s chronic dependence on food imports and galvanized action to address the nexus between conflict, food insecurity and climate change, write Patrick Verkooijen, Anne Beathe Tvinnereim and Akinwumi Adesina
He added that Egypt has also adopted other initiatives to eliminate diseases based on malnutrition, such as anemia and dwarfism.
Egypt’s President Abdel Fattah al Sisi warned, Thursday that many countries especially in Africa are facing starvations threats which requires quick and effective solutions to save millions of people’s lives.
The 11 development partners provided $112 million in grants and $374 million in development financing for the second SDG to implement projects in 22 locations across all the governorates of Egypt
It helps secure about 50 percent of food production worldwide, Gamae said as she inaugurated the 27th international annual forum of the Arab Fertilizer Association (AFA) via video conference.
As the quantity of water available in Egypt has seen no change for nearly 50 years despite a rapid population increase by no less than 40 million.