Original disclosure @ AFDB website
Updated in EWS Aug 29, 2022
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According to bank provided information, the proposed operation is an ADB Loan of USD 271 million to the Arab Republic of Egypt to finance the Food Security and Economic Resilience Support Program (FSER-SP). This program is, therefore, an integrated intervention on the urgent measures and structural aspects linked to the resilience of the economy, which are complementary and necessary to face the current situation. It results from a request of the Government of Egypt (GoE) in March 2022 to support its efforts to mitigate the impact of the global compounded shocks caused by the Russia-Ukraine conflict on the domestic economy and preserve resilience. It is designed under the multi-donor stand-alone budget support for Egypt (USD 97,3 million) involving the AfDB and other co-financiers, and the African Emergency Food Production Facility (AEFPF) (USD 173,7 million). The FSER-SP is comprised of two components: (i) Support for the Food Security Response; and (ii) Building Private Sector and Fiscal Resilience. The program will contribute to strengthening food security and resilience of the Egyptian economy, with particular emphasis on increasing national agricultural productivity, mitigating food security risks, and enhancing private sector and fiscal resilience.
Further contact information not provided at the time of disclosure
ACCESS TO INFORMATION
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The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing firstname.lastname@example.org, email@example.com, firstname.lastname@example.org, and/or email@example.com. You can learn more about the IRM and how to file a complaint at: https://www.afdb.org/en/independent-review-mechanism/