Egypt signed an agreement to borrow $400 million a year for three years from the International Islamic Trade Finance Corp. to help fund purchases of fuel and wheat, the state-run Middle East News Agency said, citing International Cooperation Minister Fayza Aboulnaga.
The funds will be provided to the state-run Egyptian General Petroleum Corp. and the General Authority for Supply Commodities, which imports wheat for the North African country, Aboulnaga said at a press conference in Cairo today, according to MENA. It carries an interest rate of 3.75 percent, she said...............................................Full Article: Source |