The Government of Egypt and the International Fund for Agricultural Development (IFAD) strengthens partnerships to reduce rural poverty and promote resilience in desert environments.
Agriculture is a vital sector of Egypt’s economy, providing livelihoods for 55 percent of the population and directly employing 29 percent of the labor force. Farming is also a vibrant source of exports and foreign exchange.
“Egypt is the largest recipient of our financial assistance in the Near East and North Africa with US$1.11 billion invested to date. It is also one of the first member countries to receive IFAD financing. Our partnership recorded more than four decades of successful human stories and achievements in rural development”, says Khalida Bouzar, IFAD’s Regional Director for the Near East, North Africa, Central Asia and Europe Division.
“IFAD has shown its comparative advantage in targeting vulnerable farmers and promoting resilience in desert environments. Long-term field presence equipped with unique expertise in rural development has improved the sustainability and impact of our projects,” she added.
The President of the IFAD, Gilbert F. Houngbo realizes a four-day visit in Egypt to discuss IFAD’s ongoing investments.
During his stay, Houngbo will visit two IFAD-supported projects in Upper and Lower Egypt and meet the projects’ participants to see first-hand how IFAD interventions have improved their lives.
The Promotion of Rural Incomes through Market Enhancement Project covers seven governorates and is benefitting 50,000 rural households by integrating them into agricultural value chains. The On-farm Irrigation Development Project are generating seasonal and part-time work for more than 21,000 poor rural men and women with the efficient use of water resources.
+ IFAD began operations in Egypt in 1977 and so far has implemented 14 projects, investing nearly $520 million and directly benefitting approximately 1.2 million households. Currently, the ongoing portfolio comprises three projects for a total of about $300 million. An agreement for a fourth investment project worth $80 million has been recently signed.