Italy Drops $100m of Egypt’s Debt, Provides $75m to Develop Wheat Silos

The Italian ambassador to Cairo Michele Quaroni said that Rome is keen to transfer Italian technology to Egypt in cooperation with the Ministry of Supply and Internal Trade, thanking the Italian debt swap program, which is currently developing 6  silos in Egypt with the support of the Italian government.

Quaroni added that the Italian debt swap program dropped $100 million of Italian debt owed to Egypt, noting that $75 million had been allocated from the program to develop 6 advanced technological silos for storing grain in Egypt.

During his speech at the opening of the field silo in Minya al-Qamh, Quaroni explained that the locations of the silos were chosen to be close to the production sites and close to the farmers.

Tags: debt, Egypt, grain, Production, Italy, silos, cooperation