Egypt, ITFC sign $1.5 billion annual work programme for 2026
Egypt and the International Islamic Trade Finance Corporation (ITFC) signed a $1.5 billion annual work programme for 2026 on Wednesday to support the country’s imports of strategic commodities, the Ministry of Planning said.
The programme, signed under the framework agreement between the two sides, allocates $700 million to the General Authority for Supply Commodities (GASC) and $800 million to the Egyptian General Petroleum Corporation (EGPC), strengthening financing for food and energy imports.
In a statement, the ministry said the partnership supports Egypt’s economic and social development priorities through financing programmes targeting key sectors.
The ministry added that cooperation between Egypt and ITFC also includes trade development initiatives, export promotion, technical support, training, and capacity building, as well as programmes aimed at women’s economic empowerment.
The partnership also seeks to promote intra-Arab and African trade and deepen regional economic integration, the statement said.
Attribution: Amwal Al Ghad English
Subediting: Y.Yasser