Egypt expects to begin making use of $500 million provided by the United Arab Emirates to fund wheat imports in January, Supply Minister Ali El-Mosilhy said.
The agreement, which was announced earlier in August, still needs parliamentary approval, El-Mosilhy told reporters on Sunday, adding he expects that to be secured in November.
Read: Egypt Signs $500M Deal for Wheat Import Financing With UAE
The minister also said wheat stocks are enough to cover 4.7 months of local consumption, while vegetable oil stocks are sufficient for 3.9 months.
