Egypt is getting another USD 1.1bn loan for imports of petroleum products and basic commodity purchases from the International Islamic Trade Finance Corporation (IFTC) after the two sides signed an agreement yesterday. In addition to financing imports, the money will be used to digitize exporting industries such as cotton and improve value chains, with an emphasis on private sector inclusion. The facility will also be used to support female entrepreneurs with the help of the SheTrades program. The new funds come as part of a larger five-year USD 3bn cooperation agreement signed in 2018 to support commodity and fuel purchases, SME growth, and institutional development. (Planning Ministry Statement, Enterprise)
Eng. Amr Suleiman, Chairman of the Board of Directors of the Mountain View Real Estate Company, revealed sales of 10 billion pounds during 2020.
The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, is set to issue LE 19.25 bill
Copyright © Okaz 2019. Powered by
