EIB Provides Egypt 150M Euros to Cope with Food Crisis in 2023

Effie Schmid, Director of the Policy and Influence Unit at European Investment Bank "EIB" Global, the financing arm of the European Investment Bank outside the European Union.

She said that EIB Global is about to provide 150 million euros to Egypt early next year 2023 to support the food pillar of the "NWFE" program launched by the government to link Green development projects in the water, food, and energy sectors.

Schmid added that there is a target of ten billion dollars for the energy sector in the "NOFE" program between 2023 and 2030, which is a critical period for action on climate action, and if this is not done within these years, it will be too late.

She affirmed that European countries are committed to supporting the financing of this sector, and there is preparatory work to ensure that this is one of the strengths of the European Investment Bank.