{"id":87515,"date":"2023-05-16T20:06:46","date_gmt":"2023-05-16T17:06:46","guid":{"rendered":"https:\/\/www.csregypt.com\/?p=87515"},"modified":"2023-05-17T00:55:54","modified_gmt":"2023-05-16T21:55:54","slug":"eib-approves-earmarking-e350-m-loan-to-ifad-to-promote-food-security-reduce-poverty","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/eib-approves-earmarking-e350-m-loan-to-ifad-to-promote-food-security-reduce-poverty\/","title":{"rendered":"EIB approves earmarking \u20ac350 m loan to IFAD to promote food security, reduce poverty"},"content":{"rendered":"<p dir=\"ltr\" style=\"line-height: 24.1pt; background: white; box-sizing: border-box; font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-align: left; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;\"><span style=\"font-size: 14.0pt; font-family: 'Arial','sans-serif'; color: #4f4f4f;\">The <a href=\"https:\/\/www.csregypt.com\/en\/egyptian-companies-to-benefit-from-15-m-eib-alexbank-renewable-efficiency-financing-initiative\/\">European Investment Bank (EIB)<\/a> and the United Nations\u2019 International Fund for Agricultural Development (IFAD) signed an agreement for a total of\u00a0\u00a0\u20ac350 million to <strong><span style=\"font-family: 'Arial','sans-serif'; background: white; font-weight: normal;\">strengthen food security, reduce poverty and strengthen resilience to climate change in rural areas.<\/span><\/strong><\/span><\/p>\n<p dir=\"ltr\" style=\"line-height: 24.1pt; background: white; text-align: left;\"><span style=\"font-size: 14.0pt; font-family: 'Arial','sans-serif'; color: #4f4f4f;\">This agreement is the second finance contract under the Framework agreement for the\u00a0<a style=\"box-sizing: border-box; background-image: linear-gradient(to right, #2f80ed 0px, #2f80ed 100%); background-size: 0px 2px; transition: background 0.878s ease 0s;\" href=\"https:\/\/www.ifad.org\/en\/web\/latest\/-\/european-investment-bank-confirms-eur-500-million-loan-to-ifad-to-invest-in-global-food-security\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #2f80ed;\">\u20ac500 million package<\/span><\/a>\u00a0announced in November 2022. This EIB financing, in line with the\u00a0<a style=\"box-sizing: border-box; background-image: linear-gradient(to right, #2f80ed 0px, #2f80ed 100%); background-size: 0px 2px; transition: background 0.878s ease 0s;\" href=\"https:\/\/commission.europa.eu\/strategy-and-policy\/priorities-2019-2024\/stronger-europe-world\/global-gateway_en#:~:text=The%20Global%20Gateway%20stands%20for,security%20of%20global%20supply%20chains.\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #2f80ed;\">EU\u2019s Global Gateway strategy<\/span><\/a>, will strengthen IFAD\u2019s response to help small-scale farmers adapt to climate change and cope with the ongoing global food crisis linked to high food, fertilizer, and fuel prices. In addition to improving food security, the deal will strengthen small-scale farmers&#8217; resilience to climate change and preserve natural resources, safeguarding the environment. \u00a0The initial tranche of \u20ac150 million was disbursed in March 2023.<\/span><\/p>\n<p dir=\"ltr\" style=\"line-height: 24.1pt; background: white; text-align: left;\"><span style=\"font-size: 14.0pt; font-family: 'Arial','sans-serif'; color: #4f4f4f;\">The two sides also signed a Procedural Framework agreement to further strengthen synergies by facilitating project implementation and procurement monitoring for jointly financed public sector projects in shared countries of operation. This procedural framework supports the growing trend of cooperation and mutual reliance, drawing upon previously established frameworks with other Multilateral Development Banks (MDBs) to provide clear, consistent, and resource-efficient procurement structures. \u00a0<\/span><\/p>\n<p dir=\"ltr\" style=\"line-height: 24.1pt; background: white; text-align: left;\"><span style=\"font-size: 14.0pt; font-family: 'Arial','sans-serif'; color: #4f4f4f;\">The agreements were signed today in Rome by EIB Vice-president<strong style=\"box-sizing: border-box;\"><span style=\"font-family: 'Arial','sans-serif'; font-weight: normal;\">\u00a0Ambroise Fayolle\u00a0<\/span><\/strong>and<strong style=\"box-sizing: border-box;\"><span style=\"font-family: 'Arial','sans-serif'; font-weight: normal;\">\u00a0<\/span><\/strong>IFAD President<strong style=\"box-sizing: border-box;\"><span style=\"font-family: 'Arial','sans-serif'; font-weight: normal;\"> Alvaro\u00a0Lario to further strengthen their cooperation in low- and middle-income countries worldwide, with a particular focus on Africa.<\/span><\/strong><\/span><\/p>\n<p dir=\"ltr\" style=\"line-height: 24.1pt; background: white; box-sizing: border-box; font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-align: left; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;\"><span style=\"font-size: 14.0pt; font-family: 'Arial','sans-serif'; color: #4f4f4f;\">\u201c<span style=\"font-family: 'Arial','sans-serif';\">By joining forces,<\/span>\u00a0<span style=\"font-family: 'Arial','sans-serif';\">we can eradicate hunger and poverty, and support millions of small-scale farmers be more resilient to climate change. The partnership with the EIB will make a difference in the lives of millions of rural people and small-scale producers who are on the frontline of the global climate and economic crisis and remain essential to global food security by producing one third of the world\u2019s food<\/span>,\u201d said\u00a0<strong style=\"box-sizing: border-box;\"><span style=\"font-family: 'Arial','sans-serif'; font-weight: normal;\">Alvaro Lario, President of IFAD.<\/span><\/strong><\/span><\/p>\n<p dir=\"ltr\" style=\"line-height: 24.1pt; background: white; box-sizing: border-box; font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-align: left; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;\"><span style=\"font-size: 14.0pt; font-family: 'Arial','sans-serif'; color: #4f4f4f;\">\u00a0\u201c<span style=\"font-family: 'Arial','sans-serif';\">The EIB-IFAD strengthened partnership will allow both organizations to further increase the support to low- and middle-income countries outside Europe, with a specific focus on Africa. By sharing synergies and best practices, our organisations aim to improve food security and support small farmers around the globe in their efforts to adapt to the consequences of climate change and turn agriculture into a more resilient and sustainable business<\/span>,\u201d said\u00a0<strong style=\"box-sizing: border-box;\"><span style=\"font-family: 'Arial','sans-serif'; font-weight: normal;\">Ambroise Fayolle, Vice President of the EIB.<\/span><\/strong><\/span><\/p>\n<p dir=\"ltr\" style=\"line-height: 24.1pt; background: white; box-sizing: border-box; font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-align: left; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;\"><span style=\"font-size: 14.0pt; font-family: 'Arial','sans-serif'; color: #4f4f4f;\">The agreements signed today fall within the EIB\u2019s strategy to increase its cooperation with clients, EU Member States, development finance institutions, civil society, and many other partners under its the\u00a0<a style=\"box-sizing: border-box; background-image: linear-gradient(to right, #2f80ed 0px, #2f80ed 100%); background-size: 0px 2px; transition: background 0.878s ease 0s;\" href=\"https:\/\/www.eib.org\/global\/index.htm\"><span style=\"color: #2f80ed;\">EIB Global branch<\/span><\/a>, launched last year and through which the Bank invested \u20ac10.8 billion beyond the European Union in 2022.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The European Investment Bank (EIB) and the United Nations\u2019 International Fund for Agricultural Development (IFAD) signed an agreement for a total of\u00a0\u00a0\u20ac350 million to strengthen food security, reduce poverty and strengthen resilience to climate change in rural areas. This agreement is the second finance contract under the Framework agreement for the\u00a0\u20ac500 million package\u00a0announced in November [&hellip;]<\/p>\n","protected":false},"author":410,"featured_media":87516,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13330,984],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EIB approves earmarking \u20ac350 m loan to IFAD to promote food security, reduce poverty - Csr Egypt<\/title>\n<meta name=\"description\" content=\"(EIB) and the IFAD signed an agreement for a total of\u00a0\u00a0\u20ac350 million to strengthen food security, reduce poverty and strengthen resilience to climate change in rural areas.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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