The Ministry of Trade, Industry and Investment has given $10 million to Ivory & Alpha banks to help traders import food commodities from the neighboring countries.
Each of the two banks will receive 5 million. It is also part of efforts to reduce and normalize food prices in the market.
There has been a massive increase in prices of food commodities such as flour, sugar, local bread, and among others.
The undersecretary in the Ministry, Biel Jock, said the Central Bank is finalizing the transactions.
He told Eye Radio that the two banks are likely to receive the money today.
Mr. Biel added that the money will only be given to companies and businessmen who supply essential food items.