Mubarak receives IFAD chairman
Egypt, Economics, 5/31/2002

Egyptian President Hosni Mubarak received Wednesday Chairman of the International Fund for Agricultural Development (IFAD) Lennart Bage.

The meeting was attended by Deputy Premier and Minister of Agriculture and Land Reclamation Dr. Youssef Wali and State Minister for Foreign Affairs Fayza Abul Naga.

Bage arrived in Cairo on Wednesday on a three-day visit to Egypt for talks with Wali and Abul Naga on IFAD support for the Egyptian agricultural projects.

Bage will visit some projects to which the Fund contributes.

Moreover, Egypt and (IFAD) on Wednesday signed an agreement whereby the IFAD will extend some $ 18 million grant to Egypt.

According to the agreement, which was by signed Fayza Abul Naga and Lennart Bage, the funds will be channelled into financing rural development in west Nubaria, northwest of Egypt.

Bage, in statements after meeting President Hosni Mubarak said that the talks with the President were fruitful.

President Mubarak expressed understanding and support of the activities undertaken by the IFAD.

The talks also reviewed the new initiative of partnership on African development (NIPAD).

Furthermore, Chairman of (IFAD) announced Wednesday that $ 40 million was to be directed at agricultural reconstruction works in the Palestinian territories.

This came during his speech at the 33rd world farmers' meetings evening session in Cairo.

The IFAD head pointed out that meetings between a number of the Fund's officials and Palestinian representatives were held a month ago to probe ways to implement the proposed projects.

Previous Stories:
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