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ArabFinance: The European Union (EU) has allocated an indicative sum of €100 million to support food security in Egypt, according to a recent statement by the European Commission.
The funding comes as part of the newly announced Food and Resilience Facility initiative worth €225 million to help eight Arab countries.
The initiative aims to mitigate the impact of the ongoing Russian invasion of Ukraine on the EU’s Southern Neighborhood partners.
The facility will help the eight countries to tackle higher prices of food and commodities to meet short- and medium-term needs.
Under the initiative, a sum of €5 million will be granted to Alegria, €25 million will be offered to Jordan, and an amount of €15 million will be given to Morocco.
Moreover, a sum of €25 million has been allocated for Palestine, with €10 million and €20 million to be provided to Syria and Tunisia, respectively.
“In the time of crisis, the EU stands in solidarity with its partners. The Kremlin-made war is threatening food security across our neighbourhood. Our support package of €225 million will help and support the people in the Middle East and North Africa region, including to ensure their access to basic goods and services,” Commissioner for Neighbourhood and Enlargement Olivér Várhelyi said.
