Egypt signs financing agreement with AFD to boost grain storage capacity

Egypt has signed on Sunday a financing agreement with the French Agency for Development (AFD) for the EU-funded project, EU Sawame3 to improve the country’s grain storage capabilities.

The deal, signed on the second day of the Egypt-EU Investment Conference, underscores Egypt’s focus on food security.

Egyptian Minister of Supply and Internal Trade Ali Al-Moselhy along with Minister of International Cooperation Rania Al-Mashaat signed the agreement with Gert Jan Koopman, Director-General of the Neighbourhood and Enlargement Negotiations at the European Comission; Cécile Couprie, AFD’s regional Director; and Eric Chevallier, France’s Ambassador to Egypt.

The Sawame3 project specifically targets advancements in grain storage infrastructure.

The agreement highlights Egypt’s commitment to ensuring food security amidst global challenges that could potentially disrupt food supply chains.