Egypt, ITFC Signed Export Funding Deal

Egypt, ITFC Signed Export Funding Deal

The Egyptian Minister of International Cooperation, Sahar Nasr, has signed a letter of intent for supporting the country’s export financing sector with the International Islamic Trade Finance Corporation (ITFC) CEO, Hani Salem Sonbol, on the sidelines the 2016 Annual Meetings of the IMF and the World Bank Group in Washington, reported Saudi Gazette.

The letter aims to support the Egyptian exports including export programs under its Arab Africa Trade Bridge initiative (AATB) which is meant to strengthen trade between Arabic and African countries. It also aims to arrange meetings that will discuss future development programs.

The agreement comes as a part of the ITFC’s cooperation with Egypt that includes signing different framework agreements which was represented by the Egyptian General Petroleum Corporation (EGPC)  with investments worth $6.2b to import oil and petroleum products.

Sarah Samir 3297 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.


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