UNDP, Savola Foods sign MoU to benefit impact investment in Egypt

United Nations Development Programme (UNDP) in Egypt and Savola Foods have signed a Memorandum of Understanding (MoU) to benefit from impact investment and advance sustainable development in Egypt.

The agreement aims to promote the achievement of the Sustainable Development Goals (SDGs) and Egypt’s Vision 2030 with focusing on adaptation to climate change.

Savola will pilot the integration of climate-resistant crops such as sorghum, quinoa and sorghum into the manufacture of wheat-based products, in line with the government’s agricultural development strategy on addressing climate change.

The signing of the MoU has witnessed by the Egyptian Minister of International Cooperation Rania al-Mashat.

The private sector plays a major role in achieving the SDGs and enhancing food security, UNP’s resident representative Alessandro Fracasiti, clarified.

Egyptian government committed to strengthen partnerships with multilateral and bilateral development partners besides the private sector, Al Mashat said.

Savola Foods will cooperate with the UNDP to fill the gap that could exist in the future, as a result of the reduced amount of wheat crop, which it expected to decrease about 9 percent by 2030, its CEO Sameh Hassan, said.