Egypt - Rural Income and Economic Enhancement Project (RIEEP)


Project Summary

Approval Date 13 Jan 2010
Signature Date 17 Feb 2010
Planned Completion Date 31 Dec 2015
Last Disbursement Planned Date 30 Dec 2015
Sovereign / Non-Sovereign Sovereign
Sector Social
DAC Sector Code 43010
Commitment U.A 52,467,915.8
Status Completion

Project General Description

The rural income and economic enhancement project (RIEEP) is initiated in order to fill a gap in the financial market and create opportunities to improve agriculture-derived livelihoods of poor rural producers and enable smallholder producers to benefit from efficient markets and local-level value addition. The project is a sovereign long term loan to the Government of Egypt with a subsidiary on-lending agreement to the Egypt SFD which will on-lend the loan to Partner Financial Intermediaries (PFIs) for lending to agribusiness enterprises. The project with an overall cost of USD73 million for a five-year period will seek to provide finance to at least 4,800 small scale agribusiness enterprises and 20,000 micro enterprises, creating over 60,500 jobs over the 5-year period of the project. The project comprises two (02) components, namely: capacity building and access to finance.

Project Objectives

The objective is to improve the socio-economic livelihood of the economically active rural smallholder farmers engaged in the production, processing and marketing of selected agricultural commodities. The project objectives is to improve the socioeconomic livelihood of the economically active rural smallholder farmers.

Beneficiaries

The principal target group for the project is the economically active rural poor who have the potential to embark on business ventures which will bring value addition to their onfarm and off-farm commercial activities. Gender considerations will be made in the selection of beneficiaries.

Participating Organization

Funding
African Development Bank
Funding
Fund for African Private Sector Assistance
Funding
Middle Income Countries Fund
Implementing
Fonds social pour le développement (FSD)

Information

IATI identifier 46002-P-EG-IE0-003
Last Update 31 Oct 2019

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Contact Details

Name EL SOKKARY Gehane
Email g.elsokkary@afdb.org

Geographic Location

Country Egypt
Coordinates Location Name
26.5 31.75 MuHAfaz?at SuhAj
27.3333 30.8333 MuHAfaz?at Asyut
28.4333 30.7 MuHAfaz?at al MinyA