Egypt obtains large loan from UAE in first cooperation with Abu Dhabi Exports Office ...Egypt

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Egypt obtains large loan from UAE in first cooperation with Abu Dhabi Exports Office
source : EGYPT INDEPENDENT ( Egypt ) () 35
The Ministries of International Cooperation, Finance, and the General Authority for Supply Commodities in Egypt signed a new agreement with the Abu Dhabi Exports Office (ADEX), affiliated to the Abu Dhabi Fund for Development – the first of its kind. A US$100 million revolving financing program agreement was signed for a period of five years, with a total of $500 million, with the aim of financing wheat imports. The Egyptian Minister of International Cooperation, Rania al-Mashat, stated that the new agreement reflects the depth of strategic relations between Egypt and the UAE, and their keenness to enhance economic integration and advance joint development efforts. She explained that through

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