First Independent Mena Newspaper
Egypt signed Sunday a $1.5 billion Annual Work Program with the International Islamic Trade Finance Corporation (ITFC), an autonomous entity within the Islamic Development Bank (IsDB) Group, to provide integrated financing solutions to the Arab country. Under the agreement, ITFC will deliver Egypt $1.5 billion integrated financing solutions, meant to enhance the country’s capacity to […]
The International Islamic Trade Finance Corporation (ITFC) will provide Egypt with $1.5 billion, a new financing agreement earmarked for imports of petroleum and basic commodities. Hani Sonbol, ITFC CEO announced the agreement to Bloomberg Asharq adding that the amount includes $800 million for petroleum imports and $700 million for basic commodities. The new deal is […]
Egypt is seeking another financial support from the International Islamic Trade Finance Corporation (ITFC) to back micro-, small-, and medium-sized enterprises (MSMEs) after the country secured last month $2.6 billion to fund developmental projects. The Ministry of Planning and Economic Development Monday indicated that the signing will take place this month, Arab Finance reports. The […]
The International Islamic Trade Finance Corporation, IFTC, has allocated to Egypt $1.1 billion destined to fund the energy sector and internal trade in 2020, Egypt Today reports. Minister of Trade and Industry Nevine Gamea who made the announcement said $700 million of the funding will go to the energy sector, and $400 million to internal […]
Morocco and the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IsDB), have agreed to enhance cooperation within the framework of Arab-Africa Trade Bridges (AATB) Program. This regional trade promotion program aims at addressing some of the challenges faced in promoting trade between Africa and the Arab world. The […]