LONDON (Aug. 2)
The United States will provide the United Arab Republic with more than 1,000,000 tons of wheat and flour worth $75,200,000, it was reported here today from Cairo.
An agreement for the sale of $58,200,000 worth of grain and flour for the Egyptian region of the U.A.R. was signed yesterday in Cairo by Dr. Abdel Moneim Kaissouni, U.A.R. Minister of the Economy and Treasury and U.S. Ambassador Frederick G. Reinhardt. A similar agreement for $17,000,000 worth of wheat and flour for the Syrian region is expected to be signed within a few days.
The new agreements, which bring to more than $330,000,000 the total amount of U.S. aid loans and grants made to Egypt and Syria since 1952, provide for payment by the U.A.R. for the wheat in local currency over a period of 30 years. About 80 percent of the income from the sale will be lent by the United States to the U.A.R. Government and private concerns for economic development projects.