Browsing: Agribusiness in Egypt

Egypt among five countries to benefit from EBRD $200M loan

The European Bank for Reconstruction and Development (EBRD) provided Egypt and the other four countries with $200 million in loans to strengthen agribusinesses.

According to a statement from Egypt’s Ministry of International Cooperation, the funding also aims at helping local farmers adopt climate-smart agriculture practices as well as strengthening farmers’ agribusinesses and improving their financial wellbeing through financing purchases of various agricultural commodities such as hazelnuts, dry dairy products, grain and onions in the selected countries of operation.

Also Read: East African Agribusiness SMEs to receive $1m

“As one of the only five economies across the Eastern Mediterranean, Eastern Europe and the Black Sea region to receive the loan, the EBRD will help transform Egypt’s agriculture value chain into “smart farming” through new methodologies that include climate-related risk management and stress testing” the Ministry noted in a statement.

This comes at a time when COVID-19 has multiplied the threats to …