IN THE FIELD
In the field The OPEC Fund
works in cooperation with developing country partners
and the international donor community to stimulate economic growth and
alleviate poverty in underserved regions. It does this by
providing financing to build essential infrastructure, strengthen social services and promote productivity,
competitiveness and trade. The following pages showcase
some of our recent work in the field.
Food security in Egypt E Port Said Grain Storage Facilities Project set to reduce agricultural losses
gypt’s agriculture sector provides livelihoods for more than half of the country’s population and directly employs about 30 percent of the labor force. The sector accounts for about 20 percent of total exports and foreign exchange earnings. However, Egypt imports about 40 percent of its food requirements and incurs a significant total food import bill.* The OPEC Fund has worked with Egypt since 1976, approving 28 public sector loans for development operations in the country during this time. These loans have financed projects in the agriculture sector – as well those in the health, transport, education and electricity sectors. Most recently, the OPEC Fund’s Director-
General Dr Abdulhamid Alkhalifa signed a US$14 million loan agreement with Egypt’s Minister of Investment and International Cooperation, Dr Sahar Nasr. The agreement was signed in the presence of 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. The loan from the OPEC Fund 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 and equipping two major storage facilities. The OPEC Fund has also supported private sector and trade finance operations in Egypt, as well as providing a number of national grants.
The Port Said Grain Storage Facilities Project, will boost food security in the country and reduce agricultural losses.
* Source: United Nations Food and Agriculture Organization http: //
www.fao.org/ egypt/our-office/ egypt-at-a-glance/en/
20
PHOTO: weerapong worranam/
Shutterstock.com
P O
PHOTOS: OPEC FUND/Mamdouh Abdel Gawwad
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59
