EBRD, FAO eye technical support for Egypt’s global grain logistics centre

The European Bank for Reconstruction and Development (EBRD) and United Nations’ Food and Agriculture Organization (FAO) are stepping up for technical support for Egypt’s planned global logistics centre for grains.

A delegation from EBRD and FAO discussed with the Egyptian supply minister signing a memorandum of understanding (MoU) to provide technical support which would help Egypt launch tenders regarding the infrastructure works of its global logistics grain storage centre project.

Minister Khaled Hanafy met with Philippe Erian – Principal Banker at EBRD; Gilles Mettetal – EBRD’s Director for Agribusiness; Sandra Hakim – FAO’s EastAgri networks coordinator; and Dmitry Prikhodko – FAO’s agricultural economist.

Egypt’s planned global logistics centre for the handling and storage of grain and food commodities is set to be built on a space of 3.350 million square metres, of which 500.000 metres fall within the boundaries of Damietta Port. The remaining 2.79 million square metres comprise a portion of the untapped industrial area northeast of the port.

Through this logistics centre project, the government in Egypt aims to transform the country into a global grain handling, processing, and storing hub.

Additionally, the FAO and EBRD delegation said several foreign investors were highly interested in investing in the country’s logistics centre, owing to its economic feasibility and potential pivotal role in boosting grain industry in the MENA region.