US financing commodities for purchase by Egypt

The United States has signed an agreement to provide Egypt with $300 million to help it buy US commodities, the Agency for International Development announced. The funds, of which $230 million is a grant and $70 million a loan, will help Egypt buy goods it needs to increase production and employment. Over the past six years, the US has financed more than $1.5 billion worth of US exports to Egypt, such as fertiliz ers, pesticides, and food crops, the agency said.