$1.1 billion .. the value of the cooperation portfolio between Egypt and the" IFAD" Fund

Dr. Rania Al-Mashat, Minister of International Cooperation, said that through development cooperation over the past decades, Egypt's portfolio with the International Fund for Agricultural Development "IFAD" increased to record about $1.1 billion, Through it, 14 projects were funded, benefiting about 1.3 million farmers, as well as millions of indirect beneficiaries.

The Minister reviewed Egypt's partnership with the Fund over four decades, based on a common commitment to sustainable rural development and raising the living standards of rural communities.

The minister mentioned that the fund works in cooperation with the national authorities directly with small and low-income farmers in Egypt, and the areas most vulnerable to climate change.

The Fund is also at the forefront of institutions that have promoted efforts to empower women and youth to enable them to contribute effectively to promoting development efforts.

She explained that during the COP27 climate conference, the International Fund for Agricultural Development (IFAD) was officially selected as the main development partner for the food axis within the national platform of the “Novi” program, the axis of linkage between water, food and energy projects.

European Bank for Reconstruction and Development

In addition to the European Bank for Reconstruction and Development, the main development partner for the energy axis, and the African Development Bank, the main partner for the water axis.

The minister stressed that the "Novi" program reflects Egypt's commitment to mobilizing climate finance and private investments for the green transition, and translating climate pledges into implementation through projects that are feasible, realistic and attractive to investments.

$3.3 billion total investments

She indicated that the total investments for these projects amounted to about $3.3 billion, noting that the International Fund for Agricultural Development is working closely with development partners to mobilize investments, soft development financing, and technical support to implement these investments and projects that directly affect the lives of citizens.

Al-Mashat said that the percentage of people suffering from food insecurity globally increased by 25% over the past year, to reach 258 million people.

In this regard, the Fund contributed its efforts to support more than 6 million people in 41 countries, by allocating funds amounting to $990 million in 70 development projects.

This reflects the great developmental impact achieved by the fund through its projects in different countries.

IFAD Fund

Egypt had contributed to the twelfth replenishment of the International Fund for Agricultural Development with a value of $3 million, and according to those contributions, the value of development funds allocated to Egypt amounted to about $63 million.

The IFAD Fund is a major and strategic partner in support of the Egyptian national platform for the "Novi" program, as it is the leading developmental partner for the food axis projects. Food within the national platform of the Novi program.