24 Sep 2023
Egypt in talks with UAE bank for funding over wheat purchases

Egypt in talks with UAE bank for funding over wheat purchases

The Egyptian government is in talks with a United Arab Emirates bank for funding over wheat purchases.
Egypt hopes to secure loan from a United Arab Emirates bank to buy wheat from Kazakhstan. / Photo: AP

Egypt is in talks with UAE-based Abu Dhabi Commercial Bank (ADBC) for the potential financing of its wheat purchases, Supply Minister Ali Moselhy said on Sunday.

Reuters reported last week that the country was in early talks with an Abu Dhabi-based bank for a loan facility for wheat purchases from Kazakhstan.

Reuters

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