EU backs Egypt with $109m to tackle global food price rise – Middle East Monitor

The EU introduced yesterday its intention to offer €100 million ($109 million) to help Egypt, within the face of the repercussions of the Russian warfare on Ukraine, which has elevated world meals costs. The choice comes simply 4 days after Cairo requested European help.

The top of the EU delegation in Egypt, Christian Berger, stated in a press release that “the EU will present €100 million in assist to help Egypt in response to the rise in meals costs as a result of Russia’s warfare on Ukraine,” with out mentioning when the help will likely be offered.

“The EU stands with its companions in these tough occasions of financial misery brought on by Russian aggression,” Berger added.

On Saturday, Egypt requested European help to face the detrimental repercussions of the assault launched by Russia on Ukraine on 24 February.

READ: Ukraine accuses Russia of blocking wheat cargo certain for Egypt

The request got here throughout two telephone calls between Egypt’s Overseas 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 provides from Russia and Ukraine. Because of the warfare, it has witnessed a rise in bread and flour costs.

Reuters quoted unnamed sources as saying that in its effort to fight the disaster it’s going through, Egypt could purchase as much as 12 million tonnes of Indian wheat, and one of many sources acknowledged that “India is able to provide top quality wheat to Egypt and meet Egypt’s high quality necessities.”