$1.1 billion.. IFAD Fund finances 14 projects in Egypt

The Ministry of International Cooperation, in cooperation with the International Fund for Agricultural Development, is implementing food projects within the “Novi” program, implementing 14 projects in the fields of agricultural and rural development, benefiting about 1.3 million farmers and citizens of rural areas.

The Ministry of International Cooperation and the International Fund for Agricultural Development (IFAD) organized a workshop on stimulating private sector participation in promoting a sustainable and resilient agricultural ecosystem in Egypt.

The Minister of International Cooperation confirmed that the current time is witnessing intense efforts and collective work to mobilize efforts and mobilize resources to provide innovative solutions to overcome these challenges.

“Nawafi” program

The Minister of International Cooperation referred to cooperation with the International Fund for Agricultural Development in implementing food projects within the “Novi” program, which builds on the close and historical cooperation with the Fund, through which $1.1 billion was made available to finance 14 projects in the fields of agricultural and rural development that benefited from it. About 1.3 million farmers and citizens of rural areas.

Agricultural development

Al-Mashat confirmed that the Ministry of International Cooperation has designated the International Fund for Agricultural Development as a major partner for the food axis, given the Fund’s extensive global experience in the field of comprehensive and sustainable agricultural and rural development, its ability to find integrated solutions, mobilize development funds, mobilize resources, and its commitment to climate financing and support. Capabilities of smallholders to adapt to climate, to work alongside the European Bank for Reconstruction and Development, the main development partner in the energy axis, and the African Development Bank, the main development partner in the water axis.

The Minister of International Cooperation appreciated the efforts made with the IFAD over the course of a year regarding the technical qualification of the food axis projects and integration with the water axis projects.

The Minister of International Cooperation continued, “Through innovative financing tools, the IFAD Fund has empowered smallholder farmers, promoted climate-smart agriculture and irrigation techniques, empowered rural communities across Egypt, strengthened the resilience of rural communities, and enabled them to access larger markets.”

Private sector

Al-Mashat stressed the vital role of the private sector, as the Ministry of International Cooperation established the Private Sector Participation Unit and is currently developing an electronic portal to review all aspects of the private sector’s benefit from multilateral and bilateral development partners in Egypt.

For her part, Dina Saleh, Regional Director of the International Fund for Agricultural Development (IFAD) in the Near East and North Africa, said that the International Fund for Agricultural Development and the Ministry of International Cooperation are leading efforts aimed at enhancing the participation of the private sector in the agricultural field, as Egypt has a strong agricultural system and a diversified private sector. and a resilient agricultural society, making it well placed to meet the challenges of climate change.