{"id":581827,"date":"2023-02-26T00:00:00","date_gmt":"2023-02-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/26\/egypt-buys-240k-tons-of-russian-wheat-plus-news-from-ebrd-usaid-and-more\/"},"modified":"2023-02-26T00:00:00","modified_gmt":"2023-02-26T00:00:00","slug":"egypt-buys-240k-tons-of-russian-wheat-plus-news-from-ebrd-usaid-and-more","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/26\/egypt-buys-240k-tons-of-russian-wheat-plus-news-from-ebrd-usaid-and-more\/","title":{"rendered":"Egypt buys 240k tons of Russian wheat. PLUS: News from EBRD, USAID and more"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">COMMODITIES- <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">More Russian wheat incoming: <\/span><span style=\"\">GASC purchased 240k tons of Russian wheat in last <\/span><span>week\u2019s international <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/19\/stanchart-on-egp-uncertainty-omani-wealth-fund-considers-investing-in-egypt-97277\/\" style=\"\">World Bank-backed tender<\/a><\/span><span>, the Supply Ministry <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3kucjrI\" style=\"\">said<\/a><\/span><span> Thursday.The state grains buyer said it paid <\/span><span>USD 317.50 per ton on a cost and freight basis in a statement picked by <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.alarabiya.net\/aswaq\/economy\/2023\/02\/23\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B4%D8%AA%D8%B1%D9%8A-240-%D8%A3%D9%84%D9%81-%D8%B7%D9%86-%D9%85%D9%86-%D8%A7%D9%84%D9%82%D9%85%D8%AD-%D9%81%D9%8A-%D9%85%D9%86%D8%A7%D9%82%D8%B5%D8%A9\" style=\"\">Reuters<\/a><\/span><span style=\"font-weight:400;\">. The wheat is scheduled to arrive between April 1-15 in five shipments and will be paid for at sight.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REMEMBER- <\/span><span style=\"\">This is GASC\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/05\/suez-canal-receives-record-monthly-revenues-95387\/\" style=\"\">third international grain tender<\/a><\/span><span style=\"\"> so far this year and the third to be <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/09\/a-fresh-gasc-tender-for-wheat-backed-by-the-world-bank-93057\/\" style=\"\">funded<\/a><\/span><span> with a portion of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/07\/03\/gasc-makes-huge-wheat-buy-world-bank-approves-usd-500-mn-loan-75097\/\" style=\"\">USD 500 mn loan<\/a><\/span><span style=\"font-weight:400;\"> that the World Bank agreed to extend the country last summer. All three tenders appear to have been awarded to Russian suppliers.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SUEZ CANAL-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EBRD kicks off second phase of SCZone digital transformation project:<\/span><span style=\"\"> The <\/span><span>European Bank for Reconstruction and Development (EBRD) launched the second phase of its <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/03\/08\/ebrd-to-double-down-on-sczone-digitization-support-66477\/\" style=\"\">program to help digitize operations<\/a><\/span><span> at the Suez Canal Economic Zone, <\/span><span>the bank said in a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ebrd.com\/news\/2023\/ebrd-launches-second-phase-to-digitalise-suez-canal-economic-zone.html\" style=\"\">statement<\/a><\/span><span> <\/span><span style=\"font-weight:400;\">over the weekend. The second phase of the program will overhaul the application process for more than 60 kinds of approvals, registrations, and permits investors may need to operate in the SCZone, as well as fully automating and digitizing the zone\u2019s new one-stop shop for investors. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">CABINET-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">More USAID governance money:<\/span><span style=\"\"> The cabinet approved a draft presidential resolution <\/span><span>adding an additional USD 19 mn to a USAID grant to the government to improve economic governance, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3KxD5Km\" style=\"\">statement<\/a><\/span><span>. USAID\u2019s five-year<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.usaid.gov\/egypt\/democracy-human-rights-and-governance\" style=\"\">economic governance activity (EGA) program<\/a><\/span><span style=\"font-weight:400;\"> began in 2020 and was initially expected to cost around USD 40 mn.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NBFS- <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Nice Deer x Misr Finance:<\/span><span style=\"\"> Insurtech startup <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.nicedeer.com\/\" style=\"\">Nice Deer<\/a><\/span><span style=\"\"> will offer short-term finance to <\/span><span>medical service providers under an agreement with Misr Finance for Financial Services, according to a<\/span><span> <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/NiceDeer_PRL_Eng-_V1-final.pdf\" style=\"\">press release (pdf)<\/a><\/span><span>. \u201cThis will help eliminate delays in medical expense reimbursement, encouraging collaboration with insurance companies and accelerating the growth of the health ins. industry in Egypt,\u201d it said. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is the third World Bank-funded wheat tender this year.<\/p>\n","protected":false},"author":1,"featured_media":581828,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,317,101,571,72,550,595,95,7103,501,563],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-581827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-commodities","tag-development-finance","tag-ebrd","tag-enterpriseam","tag-gasc","tag-non-banking-financial-services","tag-startup-watch","tag-suez-canal","tag-usaid","tag-wheat","wpautop","entry"],"acf":{"mongo_id":"bbedbc33-6692-4634-ab72-d20e2cdeb0a8","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/2\/wheat-farmer-1600px.jpg","photo_position":"below","homepage_title":"Egypt buys 240k tons of Russian wheat","full_issue_title":"","related_issue":[581807],"teaser":"This is the third World Bank-funded wheat tender this year."},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt buys 240k tons of Russian wheat. 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The Supply Ministry said that Egypt\u2019s wheat reserves would last 3.2 months, according to the wire service.","rel":"","context":"In &quot;Basic Materials + Commodities&quot;","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":622020,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/25\/egypts-gasc-buys-240k-tonnes-of-us-russian-romanian-wheat-in-intl-tender\/","url_meta":{"origin":581827,"position":1},"title":"Egypt\u2019s GASC buys 240k tonnes of US, Russian, Romanian wheat in int\u2019l tender","author":"enterpriseam admin","date":"25 November 2018","format":false,"excerpt":"The General Authority for Supply Commodities (GASC) purchased 240k tonnes of wheat in an international tender on Thursday for delivery between 10-20 January, according to Reuters. The lowest offer came from US-based Cargill, at USD 221 per tonne FOB. GASC purchased 120k tonnes from US suppliers and 60k tonnes each\u2026","rel":"","context":"In &quot;Basic Materials + Commodities&quot;","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":548846,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/24\/egypt-just-secured-240k-tons-of-russian-wheat\/","url_meta":{"origin":581827,"position":2},"title":"Egypt just secured 240k tons of Russian wheat","author":"enterpriseam admin","date":"24 August 2022","format":false,"excerpt":"State grains buyer GASC has bought 240k tons of Russian wheat directly from suppliers for delivery in September, October and November, the Supply Ministry said in a statement yesterday. The authority purchased six 40k-ton cargos of grain for USD 368 a ton on a cost and freight basis (CFR) via\u2026","rel":"","context":"In &quot;Commodities&quot;","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/372.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547655,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/03\/gasc-makes-huge-wheat-buy-world-bank-approves-usd-500-mn-loan\/","url_meta":{"origin":581827,"position":3},"title":"GASC makes huge wheat buy + World Bank approves USD 500 mn loan","author":"enterpriseam admin","date":"3 July 2022","format":false,"excerpt":"State makes its biggest wheat buy in a decade as futures dip: State grain buyer GASC last week purchased 815k tons of wheat for shipment in August, September and October, state news agency MENA reports, citing the authority. The purchase of French, Romanian, Russian, and Bulgarian wheat in last Wednesday\u2019s\u2026","rel":"","context":"In &quot;Commodities&quot;","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/78.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577323,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/17\/gasc-buys-300k-tons-of-russian-wheat-in-direct-purchase-say-traders\/","url_meta":{"origin":581827,"position":4},"title":"GASC buys 300k tons of Russian wheat in direct purchase, say traders","author":"enterpriseam admin","date":"17 November 2022","format":false,"excerpt":"Egypt\u2019s state grains buyer yesterday bought 300k tons of Russian wheat direct from suppliers, traders told Reuters. GASC last week ordered 280k tons of Russian wheat after it canceled a tender earlier this month due to high prices.Another tragic road accident: Fourteen people died when a minibus collided with a\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":548183,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/28\/egypt-pulls-plug-on-contracts-for-stranded-ukrainian-wheat\/","url_meta":{"origin":581827,"position":5},"title":"Egypt pulls plug on contracts for stranded Ukrainian wheat","author":"enterpriseam admin","date":"28 July 2022","format":false,"excerpt":"GASC cancels contracts for stranded Ukrainian wheat: The General Authority for Supply Commodities (GASC) has pulled the plug on contracts for 240k tons of stranded Ukrainian wheat booked earlier this year, sources told Reuters. 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