Egypt’s Minister for Investment and International Cooperation Sahar Nasr opened on Monday a new regional office for the International Fund for Agricultural Development (IFAD) in Cairo, which is meant to serve seven countries in the region.
According to Nasr, the new office will increase the cooperation between Egypt and IFAD, especially in the agriculture sector for the neediest areas, boosting small farmers’ projects and emerging firms.
Meanwhile, head of IFAD Gilbert Houngbo said that the new office is a strategic centre for rural development in Africa to curb poverty, achieve youth and women empowerment, and create new job opportunities in the region.
“Opening the regional office in Cairo will be a good chance for providing technical support for farmers in the Arab region, especially in countries witnessing conflicts such as Syria,” according to Houngbo.
In the same vein, the head of IFAD’s regional office in Cairo Dina Saleh said that the new office will enhance IFAD’s investment portfolio in the region and strengthen its beneficial partnership with Djibouti, Egypt, Iraq, Jordan, Sudan, Yemen, and Syria.
“We are delighted that Egypt is the biggest beneficiary from IFAD financial support in the Middle East and North Africa, and our regional office is currently running a portfolio of 18 projects in the agriculture sector,” according to Saleh.