Back to the complete issue
Thursday, 25 July 2019

Egypt secures USD 14 mn loan from OFID to set up wheat silos

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.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2020 Enterprise Ventures LLC.