Egypt signs a $1.5 billion agreement with the International Islamic Trade Finance Corporation

Egypt signs a $1.5 billion agreement with the International Islamic Trade Finance Corporation

Egypt has signed a $1.5 billion agreement with the International Islamic Trade Finance Corporation (ITFC). The agreement includes financing imports of energy products and essential commodities.

Egypt’s Planning Minister Hala El Saeed said at a signing ceremony in Cairo that the agreement between Egypt and ITFC totals $14.5 billion so far, according to a statement by the Planning Ministry.

El Saeed added that the latest signing comes within the framework agreement concluded between Egypt and the ITFC in 2018 that was renewed last year for an additional five years, with an amendment to the credit limit of the agreement from $3 to $6 billion.

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