Egypt to receive $1.1bn from ITFC to fund commodities imports – ministry

By Amwal Al Ghad English On Dec 4, 2019

oil and gas — Egypt's Petroleum Minister Tarek el-Molla

The International Islamic Trade Finance Corporation (ITFC) will provide Egypt with $1.1 billion to support the import of petroleum products and basic goods in 2020, Egypt’s petroleum ministry said on Wednesday.

The funds are part of a $3 billion agreement between Egypt’s investment ministry and ITFC signed in January 2018.

Source: Reuters

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