CBE: Egypt Will Dedicate USD 100M For Cooking Oil And Milk

Raghad Khaled

Central Bank of Egypt(CBE): USD 100M To be Dedicated For Cooking Oil And Milk

Prime Minister Moustafa Madbouly held a meeting with the Governor of the Egyptian Central Bank Hassan Abdallah, and The Minister of Supply and Internal Trading, Abdallah Meselhi. During the meeting, Madbouly announced that the concerned sectors of the government are currently cooperating to coordinate the release of some commodities that are currently stuck at Egyptian ports and that they will arrange the payments for it.

Madbouly also confirmed the continuation of work to provide production inputs for several local manufacturing operations, especially for food products and commodities, in support of the industrial sector and to provide those products and commodities.

Additionally, the Governor of the Central Bank pointed to the ongoing coordination and cooperation to provide the dollar component necessary to provide more goods and products, pointing in this regard to what was provided to import meat from Djibouti recently, and about 100 million dollars will also be provided for cooking oil and dairy, according to the requests of the Minister of Supply.

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