EXCERPT: Egypt and the EU signed a €90 million agreement to enhance food security by improving grain storage and logistics infrastructure.
Egypt and the European Commission have signed a €90 million ($93.9 million) soft funding agreement to strengthen food security in the country, Egypt’s Ministry of International Cooperation announced on Monday.
The funding, provided by the European Investment Bank (EIB), is aimed at enhancing Egypt’s grain storage and logistics infrastructure. The initiative falls under the broader Food Resilience Project, which also receives support from the European Union and the World Bank, with additional grants and financing amounting to €210 million ($219.3 million).
According to the ministry, the agreement will allow the General Authority for Supply Commodities (GASC) to improve its capacity to import and store wheat more efficiently. This development comes despite GASC being replaced as Egypt’s state grain buyer by the military-affiliated Mostakbal Misr at the end of last year.
This marks the second time in 2025 that GASC has secured financing for wheat imports. On February 4, the agency signed a $700 million loan agreement with the Islamic Trade Finance Corporation to further support its food security efforts.
Egypt is the world’s largest wheat importer, with the grain playing a crucial role in producing subsidised bread for tens of millions of Egyptians. The latest funding agreement highlights the country’s ongoing efforts to strengthen its food supply chain amid global economic pressures and rising grain prices.
Melissa Enoch
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