NBE Offers GASC US$ 25 Mln

The National Bank of Egypt (NBE) provided the General Authority for Supply Commodities (GASC) with US$ 25 million last week, an official source told Al Shorouk News.

The source affirmed that the bank is ready to provide the country with dollar resources needed by the Egyptian government to purchase the main commodities, denying reports claiming that the state could not supply foreign currency to import basic goods.

The Central Bank of Egypt (CBE) is committed to supply the country with foreign currency needed to purchase fuel and basic food goods, in addition to offering US$ 500 million to local banks every month at FX auctions.