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Egypt signs agreement with ITFC to support commodities by USD 1.1 bln

Thursday 5 December 2019 11:51 CET | News

Egypt has signed a USD 1.1 billion agreement with the International Islamic Trade Finance Corporation (ITFC) to finance importing petroleum products and commodities for 2020, according to the Ministry of Petroleum.

The agreement comes within the framework of the agreement worth USD 3 billion that was signed in January 2018 between the Ministry of Investment and International Cooperation and the International Islamic Trade Finance Corporation. 

Egypt's strategic partnership with ITFC represents an added value to the Egyptian economy and contributes to its ambitious program of economic reform and to achieving its objectives by providing the necessary financing to launch major development projects in all fields.


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Keywords: Egypt, agreement, ITFC, commodities, financing
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: Egypt
This article is part of category

Banking & Fintech