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Tuesday, 24 December 2019

ITFC to fund EDA’s Egyptian exports support program

ITFC to finance EDA’s programs that aim to promote Egyptian exports: The International Islamic Trade Finance Corporation (ITFC) has reportedly agreed to finance some of the Export Development Authority’s (EDA) programs that seek to promote Egyptian exports to African markets in the next three years, Egypt today reports. The size and timeline of the financing were not disclosed. The agreement was concluded in a recent meeting in Jeddah. Egypt had signed in early December a USD 1.1 bn funding agreement with ITFC to help it import petroleum products and food in 2020 as part of a USD 3 bn agreement between Egypt and ITFC signed in January 2018.

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