The Nile, according to legend, is a gift from the gods and is considered to be the cradle of civilization. In a dry country such as Egypt, with fertile land that has been a major source of agriculture and livelihoods for millennia, it is no surprise that the river, one the longest in the world, is thought of in this way. The European Bank for Reconstruction and Development (EBRD) is working to develop the exploitation of this valuable resource. It has invested more than EUR 53 million in the development of the agro-industry, which is a priority sector for the Bank.
Without a doubt, the Nile is gaining more significance than ever, given the increasing need for water, population growth and the challenge of climate change, according to a video on the EBRD website.
Jointly with Juhayna, the beneficiary of the loan and the biggest dairy producer in the country, the EBRD intends “to stimulate the production of milk, to introduce new products” and, particularly, to safeguard “respect for high environmental standards”. Training activities are funded by the European Union’s Neighbourhood Investment Facility with Juhayna sharing part of the costs.