Minister of Finance, Ahmed Kouchouk, reviewed Egyptian and African priorities for achieving food security at an important G20 meeting in Cairo.

 

Kouchouk affirmed that Egypt worked to expand agricultural area, increase productivity, and provide food commodities in appropriate quantities. He explained that the government is funding various programs to support farmers to encourage them to expand and increase the competitiveness of the agricultural sector.

 

"Food subsidies are a key component of Egypt's social protection strategy. Egypt subsidizes food commodities with approximately EGP 165 billion, benefiting more than 60 million citizens," said Kouchouk.

The Minister added that we have expanded the "Takaful and Karama" program, which covers five million families and includes linking support to the outcomes of education and health.

 

Kouchouk clarified that the national efforts require integration with regional and international partnerships to achieve food security goals for all. He pointed out that we look forward to a greater role for international institutions in mobilizing resources to provide finance for more sustainable agricultural investment and to address climate challenges.

 

"We are working to provide greater support and space for our private sector partners to make a strong contribution to achieving sustainable development," affirmed Kouchouk. He highlighted providing support for the Global Alliance Against Hunger and Poverty in the framework of G20 and reviving global development partnerships.

 

Kouchouk stated that we are committed to make strong partnerships in building fair, cohesive, and resilient food systems in face of climate change, and we are working together for a more just, sustainable, and responsive food future for the developing and African countries. He explained that the global increase of food prices is hampering public finance and hindering growth and development in the developing and African countries.

 

"We should be dealing seriously in addressing the imbalances in the global financial system, the finance gap in development, and climate challenges," added Kouchouk. "It is important to deploy technology and artificial intelligence applications to manage the contemporary crises and achieve food security."