Head of the European Union Delegation to Egypt. Ambassador Christian Berger.
“The EU stands by its partners in these difficult times of economic ordeal caused by the Russian aggression,” Berger said in the statement.
“Egypt can count on €100 million of assistance in its role as a regional food hub,” Commissioner for Neighbourhood and Enlargement Oliver Varhelyi tweeted after a phone call with Minister of Foreign Affairs Sameh Shoukry on Wednesday.
During another phone call with his French counterpart Jean-Yves Le Drian earlier on 2 April, Shoukry said Egypt is calling on France – within the framework of its presidency of the European Union – to provide economic and political support to help Egypt mitigate the impacts of the Russia-Ukraine crisis.
Last month, Egypt officially requested support from the International Monetary Fund (IMF) to implement the country’s comprehensive economic programme, which "possibly" included new financing to support the country's plans for comprehensive economic reforms amid the ongoing global crisis.
A report on the repercussions of the Russia-Ukraine war on food security in Egypt by an Egyptian NGO has found that Egypt is hit hard given the fact that it imports 80 percent of its wheat from Ukraine and Russia.
Egypt’s dependence on food imports exacerbates problems associated with food subsidies, including state spending deficits and the depletion of foreign exchange reserves, the FDHRD report read.
“Egypt is considered one of the most affected countries by the Russian-Ukrainian war as a result of the direct connection to its food security, depending on the import of food grains mainly from the two parties to the conflict,” the report said.
The prices of wheat and cooking oil in Egypt have increased by 17 percent and 10 percent, respectively, which is still considered a lower level of increase compared to other countries. Only the prices of meat and poultry products in Egypt have exceeded the global rates at the beginning of the crisis.
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