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Thursday, May 26, 2022 2:32 GMT
The International Islamic Trade Finance Corp. has provided Egypt an additional US$3 billion to support the North African country amid soaring wheat prices fueled by the Ukraine war. As per the new agreement, Egypt’s total funding is now doubled to US$6 billion, Bloomberg reported citing Egypt’s Supply Minister Aly El-Moselhy in his interview with the MBC TV channel. The government is also offering incentives to farmers to produce wheat and also setting an output quota to tackle the shortage of...More