EGYPTIAN PORTS RELEASED MEDICINAL PRODUCTS WORTH USD 1 BILLION
Local banks in Egypt have assisted in securing the funds necessary to pay for a backlog of imported products totaling USD 14.5 billion dispersed over different ports throughout the nation since December. This action has led to the release of pharmaceuticals valued USD $1 billion from various ports.
The Egyptian Federation of Chambers of Commerce’s Medicines Division disclosed that banks and pharmaceutical firms collaborate to help release the raw materials required for medicine production.
After the release, Egypt’s strategic drug reserve increased to six to twelve months’ worth, and alternatives to the majority of imported medications are now readily available and being produced continuously.
