Global Courant
Italy’s ambassador to Cairo, Michele Quaroni, announced on Sunday that Italy has canceled $100 million in debt owed to Egypt as a result of Italy’s debt swap program.
Quaroni explained that $75 million had been allocated for a program to develop six advanced technological silos for grain storage in Egypt, with support from the Italian government.
During the opening of a field silo for storing wheat in the production areas of Egypt’s Sharqiya Governorate, he added that Italy is keen to transfer its technology to Egypt, in collaboration with the Ministry of Supply and Internal Trade.
Quaroni praised Italy’s debt swap program, noting that the development of the Minya al-Qamh silo in Sharqiya Governorate aims to provide food security for Egypt, with the silos located next to key agricultural production sites.
