Egypt provided $121 mln in emergency funding to GASC in May: MoF

By Yomna Yasser On Jun 17, 2017

Egypt’s Finance Ministry announced in a statement on Saturday that it has provided the state grains buyer GASC with letters of credit worth $64.3 million for the purchase of 395,000 tonnes of imported wheat.

The ministry provided 1.1 billion Egyptian pounds ($60.6 million) for the purchase of wheat from local farmers in May.

It gave GASC a total of 2.2 billion pounds ($121 million) in emergency funding in May, the statement said.

Source: Reuters