(Ecofin Agency) - Egypt, the leading importer and producer of wheat, heavily relies on imports, estimated at 55 to 60%, to meet its wheat consumption. To strengthen its food security, the country plans to build six wheat silos to increase its storage capacity.

Egypt has secured a concessional financing deal worth 90 million euros ($94 million) from the European Investment Bank to boost food security in the country. This agreement, announced yesterday by Egypt’s Ministry of Planning and Economic Development, is aimed at improving the storage and logistics of cereals, particularly wheat.

The project will modernize and expand Egypt’s grain storage systems through the National Silos Program, enabling the General Authority for Supply of Commodities (GASC) to buy wheat from international markets for milling. This comes as part of a broader initiative to strengthen food security.

The European Union is also contributing a 100 million-euro grant, while the World Bank is providing concessional funding of 110 million euros.

This marks the second major financing deal for GASC, following a $700 million agreement in February 2025 to support its food security efforts.

As Africa’s largest importer and producer of wheat, Egypt covers only about 45% of its wheat needs domestically. The country relies heavily on imports, which make up around 55-60% of its annual wheat consumption, totaling more than 20 million tons.

Food insecurity continues to affect 14.4% of Egypt’s population, according to the World Food Program.

To enhance food security, the Egyptian government plans to build six new wheat silos, increasing storage capacity by 420,000 tons, bringing the total capacity to 4.62 million tons. It also aims to expand wheat cultivation by 126,000 hectares to reach 1.47 million hectares in the 2024/2025 season.

By 2028, Egypt plans to increase its public silo storage capacity to between 6.4 and 7 million tons of wheat.