Egypt: Representatives approve an agreement with the UAE to finance wheat imports with $500 million

Published 2024년 12월 15일

Tridge summary

The House of Representatives of Egypt has approved a framework agreement between the government and the Abu Dhabi Exports Office (ADEX) to finance wheat imports for the General Authority for Supply Commodities. The agreement, worth $100 million annually for five years, totals $500 million. The funding aims to provide wheat at a competitive price, reducing the burden of external imports on the Egyptian government. The agreement also aims to strengthen the strategic wheat stock for food security and supports the relationship between Egypt and the UAE.

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Original content

Follow-ups The House of Representatives approved during today's general session, headed by Counselor Hanfy Gebaly, the decision of the President of the Arab Republic of Egypt No. 533 of 2023, regarding the approval of the framework agreement between the government and the Abu Dhabi Exports Office (ADEX), to finance the supply of wheat to the General Authority for Supply Commodities, in agreement between the General Authority for Supply Commodities, with the Abu Dhabi Exports Office (ADEX), affiliated with the Abu Dhabi Fund for Development, with a financing program agreement worth $ 100 million for five years, with a total of $ 500 million, with the aim of financing wheat imports. Follow us on Al Falah Today Channel Follow us on Al Falah Today's Facebook page MP Mohamed Suleiman, Head of the Economic Affairs Committee, reviewed the details of the agreement, noting that it aims to finance the supply of wheat to the General Authority for Supply Commodities with a value of $ 500 ...

Source: Alfallahalyoum