Cabinet approves loan deal with AfDB on supporting food security

The cabinet approved during a meeting on Wednesday under PM Mostafa Madbouli a draft presidential decree on a dlrs 271 million loan with the African Development Bank to finance Egypt’s Food Security and Economic Resilience Support Program.

The program includes two major components; Support for the Food Security Response and Build Private Sector and Fiscal Resilience.

The cabinet also approved a memorandum of understanding with nine international and local companies on projects for producing green hydrogen and its derivatives in Egypt.

This falls within the framework of the state’s plans to magnify the benefit of producing green energy and establishing green hydrogen and green ammonia.

The cabinet also approved the outcome of a study by the Finance Ministry with regard to a request by the Cairo Governorate to sell and have usufruct two plots of lands in Nasr City and Fustat districts.


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