Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Egypt Inks $1.5 Bln Financing Deal with ITFC- Reports

Sun 22 Jan 2023 | 08:51 PM

On Sunday, Egypt inked a $1.5 billion financing agreement with the International Islamic Trade Finance Corporation (ITFC) to fund its trade needs, including for importing energy products and essential commodities, CNBC Arabia wrote on Twitter, citing the ITFC’s chief executive officer.

Last year Egypt signed a similar agreement, also worth $1.5 billion, with the corporation, which is headquartered in Jeddah Saudi Arabia, and often funds Egypt’s commodities imports, including grains and petroleum.