Investment Minister Sahar Nasr signed yesterday a USD 14 mn loan agreement with OPEC Fund for International Development (OFID) CEO Abdulhamid Alkhalifa to establish two wheat silos in the port of West Port Said, the ministry said in a statement. The silos, which will be built and owned by the General Company for Silos and Storage, will be used to store imported grain and wheat used to produce subsidized bread. We noted yesterday that OFID is planning to increase its financing for Egypt by USD 55 mn until the end of the year.

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