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FAO & EBRD USD 5.5M Food security plan
Economy International

EBRD & FAO Launches USD  5.5M Initiative

In order to create more sustainable agri-food systems, the European Bank for Reconstruction and Development (ERBD) and the Food and Agriculture Organization (FAO) celebrated 25 years of cooperation. The leaders of the two organizations unveiled a fresh US$ 5.5 million package of technical support aimed at enhancing food security in the West Bank and Gaza, Egypt, Jordan, Lebanon, Morocco, and Tunisia. The program is a timely reaction to the grain market crisis, which increased the vulnerability of global food security. One of the EBRD’s top goals is improving food security, and with the FAO, we can use our combined experience to the advantage of the regions in which we both operate. The most recent instance is the new technical aid initiative in the southern and eastern Mediterranean.

For instance, the effort will assist countries in reviewing some of their agri-food policy. Additionally, it will assist nations in maximizing the worth of domestic products, notably through trade diversification. The heads of the two institutions also launched a new US$ 5.5 million package of technical assistance to improve food security in Egypt, Jordan, Lebanon, Morocco, Tunisia, the West Bank, and Gaza. The new technical assistance package complements the EBRD’s individual financing for these countries. Tunisia, for instance, has received a US$ 150.5 million loan to buy cereals in the face of the crisis in the global market.

QU Dongyu, the director general, said: “Agrifood system transformation requires a variety of technical solutions, enabling regulations, and investment. In order to secure the Four Betters: better productivity, better nutrition, a better environment, and a better living for all – leaving no one behind – FAO has been assisting Members to advance on all three fronts concurrently. In order to further strengthen its 25-year cooperation with the EBRD and advance the SDGs, FAO looks forward to doing so.”

“We are pleased of the work done together with the FAO over the last 25 years and we will continue to deepen our relationship in the near future,” EBRD President Renaud-Basso stated. “One of the EBRD’s top goals is improving food security, and by working with the FAO, we can use our combined knowledge of financing and technological solutions to the advantage of the regions in which we both operate. The most recent instance is the new technical aid initiative in the southern and eastern Mediterranean.”

Image provided by Engin Akyurt

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