Egypt set to receive $500mn from World Bank to boost food security ...Qatar

Gulf Times - News
Egypt set to receive $500mn from World Bank to boost food security
source : Gulf Times ( Qatar ) () 34
The world’s top wheat importer Egypt has said it is to receive $500mn from the World Bank to alleviate the impact of war between its main suppliers Russia and Ukraine. “The World Bank financing will support the government’s efforts to meet food needs and enhance resilience to future shocks,” International Co-operation Minister Rania al-Mashat said in a statement. Egypt’s food security has been under mounting pressure since Russia invaded Ukraine in late February causing massive disruption to exports from Black Sea ports. Before the invasion, the two countries accounted for 85% of Egypt’s wheat imports. The new tranche of World Bank financing will go towards “funding wheat purchases” as well

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