Minister of Supply: We are studying financing the construction of new grain silos and oil storage tanks to increase the country's storage capacity
Cairo – Ahmed Sabri
Dr. Sherif Fawzi, Minister of Supply and Internal Trade, held a meeting with a delegation from the Islamic Development Bank (IsDB) and the Islamic Corporation for the Investment in Agriculture (ICBA) to explore ways to expand areas of joint cooperation and review a number of proposed projects aimed at supporting the food security system and increasing storage capacities for strategic commodities.
The meeting examined the possibility of securing the necessary financing for the construction of new grain silos, which would contribute to expanding storage capacities and improving the efficiency of the storage and distribution system. It also discussed financing for the construction of new tanks for storing edible oils, thereby enhancing the state’s storage capabilities and supporting the efficient management of inventories.
The Minister emphasized that expanding and developing the infrastructure of the storage system is a key pillar of the Ministry of Supply and Internal Trade’s strategy, given its direct importance in strengthening food security, enhancing the state’s ability to secure citizens’ needs for strategic commodities, and improving the efficiency of strategic inventory management.
The Minister noted that the Ministry is working to strengthen partnerships with international institutions and financing bodies, leveraging available expertise and financing mechanisms to support strategic projects related to food security. He affirmed that the coming phase aims to broaden the scope of international cooperation to include, in addition to financing the purchase and supply of basic commodities, financing infrastructure projects that enhance the state’s ability to store, manage, and secure these commodities over the long term.
The Minister explained that there is ongoing, practical cooperation between the Ministry, the General Organization for Supply Commodities, and ICBA in financing the purchase of several basic and strategic commodities. This represents an important foundation upon which to build and expand into new areas of cooperation. He pointed out that the discussion on financing the construction of silos and oil storage tanks is part of a comprehensive vision aimed at increasing storage capacities and improving the efficiency of the supply system, thereby enhancing the state’s ability to cope with changes in global markets and secure local market needs.
He stressed that increasing storage capacities is not merely about adding new capacity; it represents a direct investment in the food security system by improving the efficiency of commodity circulation, reducing losses, and strengthening the state’s ability to manage strategic inventories, thereby supporting market stability and the sustainability of supplies.
For their part, members of the IsDB and ICBA delegation affirmed their commitment to continuing and strengthening cooperation with the Ministry of Supply and Internal Trade. They noted that the existing cooperation in financing the purchase of basic commodities serves as an important model of partnership between the two sides, and that the projects presented during the meeting—most notably the grain silos and edible oil storage tanks—open new avenues for cooperation in financing infrastructure related to food security.
The delegation expressed its interest in studying appropriate financing mechanisms for the proposed projects, affirming its readiness to continue coordinating with the Ministry and its affiliated entities to complete the necessary technical and financial studies, and to determine project priorities and financing mechanisms, thereby contributing to increasing storage capacities and improving the efficiency of the basic commodity supply system.
The meeting also discussed future cooperation and the possibility of expanding financing for a number of priority projects, in line with the state’s plans to increase storage capacities and develop the system for trading and storing strategic commodities, thereby supporting the sustainability of supplies, enhancing the efficiency of supply chains, and reinforcing the pillars of food security.
