Arab Authority for Agricultural Investment and Development (AAAID), an investment institution based in Khartoum with focus on agriculture investment, has announced plans to inject $220 million in Egypt’s agriculture sector.
The funding will be allocated to the small farmers and accounts for a fifth of the institution’s 2019 capital, which according to its website amounted to $1.1 billion, Arab Finance reports.
AAAID, established in 1976 and made of 21 Arab countries according to its website, contributes to the capital of 55 major agricultural companies across 12 Arab countries.
The institution also provides programs to support small farmers and develop the local communities in which it operates. AAAID’s corporate investments in both existing companies and companies under implementation fall under four main sectors; where 47% of these investments is in the agricultural manufacturing sector, 25% is in animal production, 24% is in plant production, and 4% is in the services sector.