The‍‌‍‍‌‍‌‍‍‌ European Bank for Reconstruction and Development (EBRD) is cooperating with Italy to strengthen Egypt's agriculture sector. To launch the new project, Italy has invested €5 million of fresh funds to the EBRD Small Business Impact Fund. The funding will start the EBRD's first-ever Sustainable Agriculture Pilot Programme in Egypt, which will focus mainly on small and medium-sized businesses.

Agriculture is important for Egypt's economy and is, however, threatened by climate change. The situation calls for urgent upgrading and modernizing of the sector. The new programme aims at the conversion of Egyptian agribusinesses to sustainable use of technology, which will, among others, increase efficiency, be environmentally friendly, and build resilience to climate-related problems in the sector.

To achieve this, the EBRD intends to disperse funds to businesses through local banks. This financing will enable them to purchase the sustainable equipment and practices they require. Along with the loans, technical support will be extended to guide the projects and ensure compliance with green standards. Also, the programme will provide financial incentives to those taking loans if they complete projects that result in measurable environmental benefits.

This partnership is in line with the EBRD’s objective of enhancing competitiveness and facilitating the transition to a green economy in Egypt. It also resonates with Matteo Patrone’s planed, ERBDS vice president, which aims at deepening partner relations in Africa for sustainable growth and climate protection. By partnering with each other, EBRD and Italy are contributing to food security and job creation in Egypt. The donation agreement was officially signed at the Italian Embassy in ‍‌‍‍‌‍‌‍‍‌Cairo.