Egypt Strikes USD 500 Million Deal with UAE to Finance Wheat Imports ...Egypt

Photo Credit: Egyptian Ministry of International Cooperation website Egypt has signed a USD 500 million (EGP 15.4 billion) deal with the Abu Dhabi Exports Office (ADEX) to fund wheat imports for five years, according to a statement by the State Information Service on Tuesday, 15 August. The deal was secured following talks with the UAE in July. The funds will be used to pay for imports from both Abu-Dhabi based agricultural company Al Dahra and ADEX. The full amount will be dispersed in five installments of USD 100 million (EGP 3 billion) each over a period of five years. The financing package offered to Egypt by ADEX provides high quality products at a low price and with a reasonable payme

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Last updated : 20 August 2023 clock 05:00 PM

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Egypt Strikes USD 500 Million Deal with UAE to Finance Wheat Imports ...Egypt

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