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    Reference: 20220523
    Release date: 13 October 2022

    Promoter – Financial Intermediary

    ARAB REPUBLIC OF EGYPT

    Location

    Description

    The project will support Egypt in building resilience towards food shortages due to climate change or to food price spikes, by increasing and modernising their cereal storage and logistics infrastructure.

    Objectives

    In particular, the operation aims at: (i) strengthening the resilience of Egypt's food supply system by increasing the storage capacity for wheat in modern silos, thus reducing losses in grain storage and handling ; (ii) contributing to immediate food security by addressing cereal supply shortages and replenishing the country's strategic reserves.

    Comments

    The proposed operation is expected to be covered by the comprehensive guarantee granted to EIB under the Dedicated Investment Window 1

    Sector(s)

    Under Global Europe NDICI guarantee

    The proposed operation is expected be covered by the comprehensive guarantee granted to the EIB under the Dedicated Investment

    Proposed EIB finance (Approximate amount)

    EUR 150 million

    Total cost (Approximate amount)

    EUR 300 million

    Environmental aspects

    The project is expected to contribute to climate action and environmental sustainability (CA&ES) objectives, in particular to climate adaptation, which will be determined as part of the due diligence. Issues related to occupational health and safety of workers within the value chain will be assessed. The Promoter will have to comply with relevant EIB standards (notably 8-9 Labour rights and Occupational and Public Health, Safety and Security). The project will contribute towards social inclusion given the targeting of the subsidised bread program to reach the vulnerable population of the country.

    Procurement

    The promoter has to ensure that implementation of the project will be done in accordance with the EIB's Guide to Procurement.

    Status

    Under appraisal - 9/08/2022

    Milestone

    Under appraisal

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Egypt Agriculture, fisheries, forestry