Cairo – Mubasher: The Egyptian Minister of Planning and Economic Development and Egypt’s Governor at the Islamic Development Bank (IsDB), Hala El-Saeed, explored means of promoting bilateral cooperation with the CEO of the International Islamic Trade Finance Corporation (ITFC), Hani Sonbol.
From 2008 until May 2021, ITFC provided a total of $12.5 billion to Egypt to finance the import of petroleum and its products as well as food commodities and other products, according to a statement on Monday.
The ITFC financed the supply of strategic commodities for Egypt within the framework of two Murabaha agreements signed on 6 September 2018.
El-Saeed pointed out that the 2021 program, which was signed in January 2021 remotely, includes providing $700 million to the Egyptian General Petroleum Corporation (EGPC) and $400 million to the General Authority for Supply Commodities (GASC).
