Minister Farouk Urges Swift Activation of Agricultural Solidarity Fund to Protect Egyptian Farmers
Alaa Farouk, Egypt’s Minister of Agriculture and Land Reclamation, chaired the second meeting of the Agricultural Solidarity Fund’s Board of Directors to finalize the fund’s strategic and operational framework aimed to safeguard the agricultural sector.
The fund is designed to protect small-scale farmers from environmental risks, improve agricultural productivity, and enhance rural incomes, supporting Egypt’s national food security strategy. It aligns with Egypt’s Sustainable Agricultural Development Strategy 2030 and aims to:
- Increase land and water productivity.
- Ensure food security for key crops.
- Improve the competitiveness of local produce.
- Enhance agricultural investments.
- Raise rural living standards and reduce poverty.
Key initiatives include crop insurance, low-interest loans through the Agricultural Bank of Egypt and Agricultural Development Program, and comprehensive technical assistance.
Minister Farouk emphasized the development of insurance products to mitigate risks from pests, diseases, and climate challenges, alongside outreach campaigns for farmer awareness and collaboration with agricultural cooperatives.
Mohamed Zakaria, Executive Director, highlighted foundational pillars: crop insurance, accessible financing, capacity building, market access support, water conservation, cooperative partnerships, and monitoring for accountability.
The fund’s registration is underway with Egypt’s Financial Regulatory Authority and Ministry of Finance. Minister Farouk established committees focused on strategic planning, finance and administration, and insurance product design to expedite the fund's activation.
This initiative marks a major step toward sustainable agriculture and rural development in Egypt.
Source: Daily News Egypt