Egypt Gets Extra $3 Billion in Financing to Cope With Wheat Woes

A worker carries wheat during the harvest in Fayoum, Egypt, on May 19.Photographer: Islam Safwat/Bloomberg

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By Abdel Latif Wahba

May 24, 2022 at 10:44 AM UTC

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A $3 billion increase in funding from the International Islamic Trade Finance Corp. is helping Egypt deal with soaring wheat prices caused by Russia’s invasion of Ukraine, according to an Egyptian official.