400,000 tons of Egyptian rice to Indonesia

Indonesia and Egypt have signed an agreement to export 400,000 tons of Egyptian rice to Jakarta, financed by the Islamic Bank.

The commercial chancellor for the Indonesian embassy told ArabicNews.com today that Japan was supposed to finance this deal and present it to Indonesia in the form of a grant which would not have needed to be repaid, but the Japanese side did not accept the high cost of transporting the Egyptian rice.

For this reason Indonesia resorted to the Islamic Bank on condition that the Egyptian government reduce the transportation cost for carrying out this deal.