The Supply Ministry secured USD 213 mn in funding from the Islamic Trade Finance Corporation (ITFC) to buy 1.02 mn tonnes of wheat, sufficient till the end of the fiscal year in June, Reuters Arabic Service reported, citing a ministry statement. State grain buyer GASC secured last month USD 1 bn of a USD 3 bn funding agreement with the ITFC, USD 2 bn of which will be spent on petroleum products. Egypt will receive more than USD 700 mn for petroleum products this year, CEO Hani Sonbol told Masrawy.

Tags: