Egypt to Receive $500Mln Loan from World Bank to Address Food Shortage Crisis

The new project links wheat imports to direct assistance to the poor and vulnerable population through Egypt’s Bread Subsidy Program. (EPA)

The World Bank’s Board of Executive Directors approved on Wednesday a $500 million loan to bolster Egypt’s efforts to ensure that poor and vulnerable households have uninterrupted access to bread, strengthen Egypt’s resilience to food crises and support reforms in food security policies, including to improve nutritional outcomes.

In a statement, it noted that the Emergency Food Security and Resilience Support Project will help cushion the impact of the war in Ukraine on food and nutrition security in Egypt.