Cairo – Mubasher: The International Islamic Trade Finance Corporation (ITFC) signed a $100 million emergency financing agreement with the Egyptian General Authority for Supply Commodities (GASC) to meet the country’s needs of essential goods amid the coronavirus (COVID-19) outbreak.
The deal is part of the ITFC’s master murabaha agreement signed with Egypt to help GASC cushion the impact of the pandemic and secure food commodity imports, accoding to a statement on Monday.
The funding will be used to purchase 240,000 tonnes of wheat and 100,000 tonnes of sugar.
