Africa Finance Corp., ITFC to provide Egypt with $250M for procurement of essential commodities

Tue, 16 Jan 2024 - 12:05 GMT

Meticulously structured per Sharia principles, the trade loan represents a dynamic response to the evolving economic landscape in Africa, the AFC explained

ITFC, ICD to provide $1.5 billion of integrated financing solutions to Egypt: Minister

Mon, 23 Jan 2023 - 04:09 GMT

The package aims at strengthening the country's ability to mitigate Covid-19's economic and social repercussions, as well as the successive geopolitics in the international arena as a result of the Russian-Ukrainian crisis, she added in a speech to the signing ceremony of ITFC-ICD 2023 annual work program with Egypt.

Planning minister probes with ITFC means to launch academy for exporters

Mon, 07 Feb 2022 - 04:25 GMT

The meeting was held on the sidelines of a visit by minister Said to the headquarters of ITFC in the Saudi city of Jeddah, said a statement issued by her ministry on Monday.

Industry Min., ITFC discuss Cooperation's work plan in Egypt

Wed, 19 Jan 2022 - 04:01 GMT

The meeting was attended by Minister of Trade Commissioner Amr Hazaa, advisor to the minister for development projects, and Heba Gamal, representative of the International Islamic Trade Finance Corporation in Egypt.

ITFC provides Egypt $2.3B development financing during 2021

Sun, 07 Nov 2021 - 03:55 GMT

There are ongoing discussions on adding the Egyptian Micro, Small and Medium Enterprises Development Agency (MSMEDA) to the ITFC’s beneficiaries in the upcoming period, as well as means of diversifying areas of cooperation, including climate financing.

ITFC provides financing to African countries worth $25B

Thu, 09 Sep 2021 - 01:54 GMT

Sonbol added Thursday that the corporation is working primarily on stimulating and encouraging trade.

Total amount provided by ITFC to Egypt records $12.5B

Thu, 08 Jul 2021 - 03:08 GMT

The program includes providing $700 million to the Egyptian General Petroleum Corporation and $400 million to the General Authority for Supply Commodities. An initiative (in international trade) was launched to empower women in the field of small and micro-enterprises.

Egypt signs ITFC's 2021 program for $1.1B

Wed, 13 Jan 2021 - 12:59 GMT

The program was signed by CEO of the ITFC Hani Salem Sonbol, and Executive Vice President of the Egyptian General Petroleum Corporation (EGPC), Ashraf Abdullah, and Vice-Chairman of the Board of Directors of the General Authority for Supply Commodities (GASC) Ahmed Youssef.

ITFC’s approved financing operations in Egypt hit $11.2B

Tue, 13 Oct 2020 - 11:42 GMT

Egypt is one of the most important partners of the International Islamic Trade Finance Corporation (ITFC), CEO of ITFC Hany Salem Sonbol said.

ITFC provides Egypt with $9.6B till June 2020

Tue, 30 Jun 2020 - 05:18 GMT

Saeed added that the Egyptian General Petroleum Corporation and other public sector beneficiaries benefit from financing operations, in addition to the Social Fund for Development and 3 companies from the private sector.

ITFC pledges $100M aid to ease coronavirus ramifications

Mon, 04 May 2020 - 12:50 GMT

The package would also enable the authority in meeting basic commodities needs, the statement added.

ITFC allocates $1.1B in funding for Egypt in 2020

Thu, 06 Feb 2020 - 03:30 GMT

Gamea added in a statement Thursday that $700 million of the funding will go to the energy sector, while $400 million will be for the internal trade.

Gov't keen on boosting cooperation with different regional, int'l financial institutions: min.

Thu, 06 Feb 2020 - 02:48 GMT

Gamae pointed out to the importance of making the maximum benefit from the funding programs allocated by the ITFC to Egypt that are worth $1.1 billion and serve the sectors of energy and internal trade.

ITFC finances programs of promoting Egypt's exports to Africa: EDA

Sun, 22 Dec 2019 - 02:27 GMT

The two sides agreed on a timetable to implement EDA programs as well as the budget proposed for each program.

Egypt signs agreement with ITFC to support commodities by $1.1B

Wed, 04 Dec 2019 - 12:41 GMT

This comes as part of the agreement worth $3 billion signed in January 2018 between the Ministry of Investment and the International Islamic Trade Finance Corporation.

Nasr probes with ITFC support for private sector

Fri, 01 Mar 2019 - 10:47 GMT

The minister praised the role played ITFC to provide basic commodities for citizens through a 3 billion dollar agreement signed last year.

Presidential decree approves framework deal with ITFC

Thu, 10 Jan 2019 - 10:11 GMT

A presidential decree was issued on Thursday sanctioning a framework agreement between the Egyptian Investment and International Cooperation Ministry and the International Islamic Trade Finance Corporation (ITFC) to fund Egypt's importation of staple comm

President Sisi has serious vision on development in Egypt

Sat, 06 Oct 2018 - 11:20 GMT

President Sisi has serious vision on development in Egypt - ITFC CEO

ITFC contributes more than $40bn to funding trade operations in 10 years

Tue, 03 Apr 2018 - 11:20 GMT

Over 10 years, the Islamic International Trade Finance Corporation has contributed more than 40 billion dollars to funding and developing trade operations.

$3B agreement with ITFC for basic goods provision

Tue, 30 Jan 2018 - 12:54 GMT

Minister of Investment signed Tuesday a $3 billion agreement with the Islamic Trade Finance Corporation (ITFC) to support the provision of basic goods in Egypt.