Egypt inaugurates regional centre for grain trading technology

Egypt opened a new regional centre for grain trading technology in Birqash, implemented by the state-run General Company for Silos and Storage.

The centre is one of several projects funded by a $300 million UAE grant allocated for building 25 wheat silos, the Minister of International Cooperation, according to Rania El-Mashat.

The supply sector in Egypt has received a total funding of $129 million from several development partners such as the Saudi Fund for Development (SFD) and OPEC Fund for International Development, in addition to UAE grants and funds provided under the Egyptian-Italian debt swap programme.

The Minister of Supply and Internal Trade, Ali El-Moselhy, said that the country’s strategic reserve of wheat is sufficient for 4.7 months, noting that the storage capacity of wheat has been more than doubled to 3.4 million tonnes from 1.6 million.