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Egypt: With Financing from the ITFC of Egypt Is Developing a Plan to Import Basic Commodities
Source: www.export-egypt.com 1/31/2018

Dr. Sahar Nasr, Egyptian Minister of Investment and International Cooperation, confirmed the provision of $ 3 billion in funding from the International Islamic Trade Finance Corporation (ITFC) to finance the import of commodities for the benefit of the Government of the Arab Republic of Egypt.

The announcement came during the signing of a framework agreement between the Egyptian government represented by the Ministry of Investment and International Cooperation with the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group.

The ceremony was signed at the headquarters of the Ministry of Investment in Cairo, where ITFC was represented by the CEO, Eng. Hani Salem Sonbol, and the Egyptian government was represented by Dr. Sahar Nasr, Minister of Investment and International Cooperation.

The agreement includes a number of items, the most important of which is finding ways and means to ensure close cooperation and coordination of efforts between the government and the institution and implementation of the strategic partnership between the two parties in the field of trade finance, import of commodities such as petroleum, oil and gas products, wheat, foodstuffs and other commodities for the benefit of the Government of the Arab Republic of Egypt



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