Egypt likely to purchase wheat under UAE’s $500mln deal in January: Moselhy

The UAE-based agribusiness Al Dahra signed earlier a five-year agreement worth $500 million with the Abu Dhabi Exports Office (ADEX) to supply Egypt with wheat

Staff Writer, Arab Finance

August 21, 2023

PHOTO

Egypt is expected to benefit from the five-year $500 million financing offered by the UAE to supply the country with wheat in January 2024, Asharq Business reported, citing Minister of Supply and Internal Trade Ali Moselhy.

Moselhy noted that the deal is pending the parliament’s approval, expecting it to be endorsed in November.

The UAE-based agribusiness Al Dahra signed earlier a five-year agreement worth $500 million with the Abu Dhabi Exports Office (ADEX) to supply Egypt with wheat.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.