World Bank approves $500m loan for emergency food security project in Egypt

RIYADH: The World Bank has approved a $500-million loan to help Egypt ensure an uninterrupted supply of bread as the country faces food security concerns amid rising prices and supply disruption due to the Russia-Ukraine war.

“This project supports the government’s strong commitment to ensuring that the needs of citizens continue to be met even amid a very challenging global context caused by concomitant crises such as COVID-19 and the war in Ukraine,” said Rania Al-Mashat, Egypt’s Minister of International Cooperation, in a press statement.