ITFC Approves USD 2.6 Billion Financing for Egypt’s Economic Developments

On the 19th of January, the International Islamic Trade Finance Corporation (ITFC) in a meeting with the country's Ministry of Trade and Industry approved a financing amount of USD 2.6 billion to fund developmental projects in Egypt. The meeting was attended by Egypt's Minister of Trade and Industry Nevine Gamea and Chief Executive Officer (CEO) of ITFC, Hani Salem Sonbol discussing the corporation's work plan in Egypt in 2022.

Why it Matters?

The long-standing partnership between the Egyptian government and the ITFC results in various projects contributing to supporting the sectors of trade and industry, small and medium enterprises, and women's empowerment projects, in addition to supporting the commercial cooperation between Arab and African countries...