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Egypt Macro Flash<br />
�EGYPT SIGNS USD1 BILLION FINANCE FOR FOOD, ENERGY<br />
Source: Reuters, July 2, <strong>2012</strong><br />
The Egyptian government signed an agreement on July 1 with the Saudi-based Islamic Development Bank<br />
(IDB) that will provide USD1 billion to finance energy and food imports, the government said in a statement.<br />
The finance was part of a previously announced agreement to provide Egypt with USD2.5 billion. Trade<br />
sources said this month that the government had struggled to obtain bank payments for its fuel purchases.<br />
They said this had led to shipping delays that may have disrupted supplies for transport, industry and<br />
farming. The government denied any problems with energy supplies.
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