Egypt, UAE Sign Deal Worth Dlrs 500 Million to Fund Wheat Supplies for Five YearsSource: www.export-egypt.com 8/15/2023, Location: Africa |
|
|
|
|
|
The Ministry of International Cooperation and the General Authority for Supply Commodities (GASC) signed a deal worth dlrs 500 million with UAE-based agribusiness Al Dahra and Abu Dhabi Exports Office (ADEX) to supply wheat to Egypt.
The five-year agreement, worth $100 million per year, will provide Egypt with a steady supply of high-quality imported milling wheat. The signing ceremony was held at the International Cooperation Ministry in the New Administrative Capital. Minister of International Cooperation Rania El Mashat signed the framework deal, while Minister of Finance Mohamed Maait signed the guarantee deal. Mashat said the new agreement reflects the depth of strategic relations between Egypt and the UAE and their keenness on enhancing economic integration and pushing forward joint development plans. She praised the development cooperation with Abu Dhabi Development Fund, which has started in 1971, resulting in the funding of more than 20 projects worth 4 billion (UAEdirham) in the various sectors of benefit to citizens, especially water, health, housing, transport and agricultural development. This agreement solidifies our commitment in establishing long term supply deals with key producers across the world, so that the people of Egypt have access to essential food supplies and strengthening our food grain supply chain buffer to withstand any unexpected shocks in the global markets, said Minister of Supply and Internal Trade Ali Al-Moselhy. The low-cost financing package from ADEX helps us procure high quality wheat at the lowest cost financing available, with comfortable payment terms, he added. |
|
|
Financials and Investment News in Egypt >> |
 |
|||||
|
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| Egypt Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 | |
