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EU backs Egypt with $109m to tackle global food price rise

April 7, 2022 at 2:25 pm

A man sells bread at a bakery in Egypt on 20 March 2022 [KHALED DESOUKI/AFP/Getty Images]

The EU announced yesterday its intention to provide €100 million ($109 million) to support Egypt, in the face of the repercussions of the Russian war on Ukraine, which has increased global food prices. The decision comes just four days after Cairo requested European support.

The head of the EU delegation in Egypt, Christian Berger, said in a statement that “the EU will provide €100 million in aid to support Egypt in response to the rise in food prices due to Russia’s war on Ukraine,” without mentioning when the aid will be provided.

“The EU stands with its partners in these difficult times of economic distress caused by Russian aggression,” Berger added.

On Saturday, Egypt requested European support to face the negative repercussions of the attack launched by Russia on Ukraine on 24 February.

READ: Ukraine accuses Russia of blocking wheat shipment bound for Egypt

The request came during two phone calls between Egypt’s Foreign Minister Sameh Shoukry and his German and French counterparts, Annalena Baerbock and Jean-Yves Le Drian.

Egypt is the world’s largest wheat importer, bringing in 80 per cent of its wheat supplies from Russia and Ukraine. As a result of the war, it has witnessed an increase in bread and flour prices.

Reuters quoted unnamed sources as saying that in its effort to combat the crisis it is facing, Egypt may buy up to 12 million tonnes of Indian wheat, and one of the sources stated that “India is in a position to supply high quality wheat to Egypt and meet Egypt’s quality requirements.”