The EU has presented an initiative for a regional Food and Resilience Facility worth €225 million to address short and medium term needs of the Southern Neighbourhood partners. It aims to address the consequences of rising prices of food and commodities in the region.
The EU is providing Egypt with €100 million in support to tackle rising food prices amid the ongoing war in Ukraine, according to EU’s statement.
“In the time of crisis, the EU stands in solidarity with its partners. The Kremlin-made war is threatening food security across our neighbourhood. Our support package of €225 million will help and support the people in the Middle East and North Africa region, including to ensure their access to basic goods and services,” Olivér Várhelyi, Commissioner for Neighbourhood and Enlargement, said.
EU will support Egypt with the largest part of the funding to Egypt. Other countries that have received support are: Algeria, Jordan, Lebanon, Morocco, Palestine, Syria and Tunisia.
Also read: World Bank approves over $700m for a emergency financing package for Ukraine
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