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Thursday, 5 December 2019

Egypt signs USD 1.1 bn funding agreement with ITFC

Egypt to get USD 1.1 bn IFTC loan for commodity imports: Egypt has signed a USD 1.1 bn funding agreement with the Islamic Trade Finance Corporation (ITFC) to help it import petroleum products and food in 2020, according to a cabinet statement. The funds are part of a USD 3 bn agreement between Egypt and ITFC signed in January 2018. Investment Minister Sahar Nasr said that the loan would benefit 64 mn Egyptians and contribute to providing food security for the population.

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