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The International Islamic Trade Finance Corporation (ITFC) signed a $3 billion framework agreement with the Egyptian government to provide financial support for the supply of energy, food and other commodities in Egypt, including oil, gas, wheat and other food products
.
The agreement demonstrates the strong partnership
between the Islamic Development Bank (IsDB), the parent company of the International Islamic Trade Finance Corporation, and Egypt.
Notably, the framework agreement signed this time includes a $2 billion energy cooperation agreement
.
Egypt's Ministry of Energy said that the signing of this agreement has great strategic significance for Egypt's economic development, and the benefits for Egypt's economic development, social welfare improvement and internal development should not be underestimated
.
To date, the ITFC has signed five framework agreements totalling US$9.
2 billion with the Egyptian government, represented by the Ministry of Investment and International Cooperation.
The International Islamic Trade Finance Corporation (ITFC) signed a $3 billion framework agreement with the Egyptian government to provide financial support for the supply of energy, food and other commodities in Egypt, including oil, gas, wheat and other food products
.
The agreement demonstrates the strong partnership
between the Islamic Development Bank (IsDB), the parent company of the International Islamic Trade Finance Corporation, and Egypt.
Notably, the framework agreement signed this time includes a $2 billion energy cooperation agreement
.
Egypt's Ministry of Energy said that the signing of this agreement has great strategic significance for Egypt's economic development, and the benefits for Egypt's economic development, social welfare improvement and internal development should not be underestimated
.
To date, the ITFC has signed five framework agreements totalling US$9.
2 billion with the Egyptian government, represented by the Ministry of Investment and International Cooperation.
