Beta Launch Thursday, 22 August 2019
Global Dow 3.79
2,835.68 0.13%
27 August 08:59 PM
S&P 500 4.08
2,443.05 0.17%
25 August 05:03 PM
EGX 23.25
12,949.65 0.18%
27 August 12:00 AM
TDWL -20.48
7,225.18 -0.28%
27 August 12:00 AM
DFM -21.94
3,602.55 -0.61%
27 August 12:00 AM
ADX -13.82
4,479.99 -0.31%
27 August 12:00 AM

OFID supports food security in Egypt

 A US$14 million loan agreement between the OPEC Fund for International Development, OFID, and Egypt will help boost food security in Egypt.

Dr. Abdulhamid Alkhalifa, the Director-General of the OFID, signed the loan agreement with Dr. Sahar Nasr, Egypt’s Minister of Investment and International Cooperation.

Egypt’s Prime Minister Dr. Mostafa Kemal Madbouly, Minister of Supply and Internal Trade Dr. Ali Elmoselhy, and Minister of Trade and Industry Amr Nassar were present in the signing ceremony.

The loan from OFID will finance the Port Said Grain Storage Facilities Project, an important agricultural sector development initiative in Egypt. The project will boost food security in the country and reduce agricultural losses by building two major storage facilities.

The OFID’s high-level delegation to Egypt visited project sites of other OFID-funded initiatives in Egypt.

The relationship between the OFID and Egypt dates back to 1976. The OFID has approved 28 public sector loans for development projects in Egypt. These loans have financed projects in health, agriculture, transport, education and electricity sectors. The OFID has also supported the private sector and trade finance operations in the country, and provided a number of national grants 

The OFID was established in January 1976 by the then 13 member countries of OPEC, including the United Arab Emirates.

RECOMMENDED

COMMENTS

There are no comments yet

LEAVE A COMMENT

Share with

My Account

Forgot password?

Create An Account

Forgot password?

Restore password

Subscribe to read
Already subscribed? Click here

For a limited time!
12 Months = 15 Months
24 Months = 32 Months
(Included Postal Fees worldwide)

Read, Explore Opportunities
Be connected with Business, Investment, Finance, Stock Exchange, Currencies, Development and International Cooperation

3 Months

18 USD / 60 AED

English Edition

Subscribe

3 Months

18 USD / 60 AED

Arabic Edition

Subscribe

3 Months

29.9 USD / 99 AED

Both Editions

Subscribe

6 Months

36 USD / 120 AED

English Edition

Subscribe

6 Months

36 USD / 120 AED

Arabic Edition

Subscribe

6 Months

59.9 USD / 199 AED

Both Editions

Subscribe

12 Months

72 USD / 240 AED

English Edition
Good Deal! 
(15 Months instead of 12 Months)

Subscribe

12 Months

72 USD / 240 AED

Arabic Edition
Good Deal! 
(15 Months instead of 12 Months)

Subscribe

12 Months

122 USD / 408 AED

Both Editions
Good Deal! 
(15 Months instead of 12 Months)

Subscribe

24 Months

144 USD / 480 AED

English Edition
Amazing Deal!
(32 Months instead of 24 Months)

Subscribe

24 Months

144 USD / 480 AED

Arabic Edition
Amazing deal!
(32 Months instead of 24 Months)

Subscribe

24 Months

240 USD / 799 AED

Both Editions
Amazing deal!
(32 Months instead of 24 Months)

Subscribe
* Terms and conditions apply.