ITFC approves $1.3 bln in financing for Egypt’s food security in 2026

Egypt’s state-run General Authority for Supply Commodities (GASC) has secured financing approvals worth approximately $1.3 billion from the International Islamic Trade Finance Corporation (ITFC) so far in 2026 to support food security, the corporation’s chief executive said on Thursday.

ITFC CEO Adeeb Yousuf Al Aama announced the figure during a meeting with Supply and Internal Trade Minister Sherif Farouk to discuss cooperation in securing Egypt’s needs for basic commodities.

The discussions covered ITFC financing for GASC’s purchases of grain and vegetable oils, in coordination with the Future of Egypt for Sustainable Development Authority, as well as expanding financing programmes and improving strategic stock management and supply chains.

Farouk highlighted ITFC’s role as a key partner in supporting Egypt’s food security. Al Aama reaffirmed the corporation’s commitment to expanding its financing and technical programmes to support the country’s food supply chains.

Both sides stressed the importance of continued cooperation to strengthen food security and maintain market stability.