The International Islamic Trade Finance Corporation (ITFC) has announced that total financing that it provided to the Egyptian General Petroleum Corporation (EGPC) had exceeded $17.4 Bn, according to a statement by Egypt’s Ministry of Petroleum and Mineral Resources on November 5.

The ITFC’s CEO Adeeb Yousuf Al Aama said that the corporation had approved $3.35 Bn for the EGPC in 2026.

The official’s statements came during a meeting with Minister of Petroleum and Mineral Resources Karim Badawi where they discussed ways to strengthen bilateral co-operation and follow up on financing programs provided to Egypt’s petroleum sector.

Badawi stressed his ministry’s keenness to deepen its partnership with the ITFC and expand areas of co-operation during the coming period.

He reviewed the petroleum sector’s efforts to secure the domestic market’s needs for petroleum products and natural gas through two parallel tracks, including intensifying research and exploration activities and developing fields in co-operation with investment partners to increase domestic production.