Egypt Approves $500m Financing Agreement With Abu Dhabi Exports Office for Wheat Imports

The Egyptian House of Representatives, led by Speaker Hanafi El-Gebali, has approved Presidential Decree No. 533 of 2023, which formalizes a framework agreement between the Egyptian government and the Abu Dhabi Exports Office (ADEX) to finance wheat imports for Egypt’s General Authority for Supply Commodities (GASC).

Under this agreement, ADEX, an affiliate of the Abu Dhabi Fund for Development, will provide a $100 million annual revolving financing program over five years, amounting to a total of…