Cairo – Mubahser: The International Islamic Trade Finance Corporation (ITFC) has signed five agreements worth $9.2 billion with the Egyptian government, Akhbar El-Yom newspaper reported, citing ITFC’s CEO Hani Sonbol as saying.
ITFC has financed Egypt’s General Authority for Supply Commodities (GASC) to purchase 1.3 million tonnes of wheat and 125,000 tonnes of rice, Sonbol added during an event organised by ITFC.
It is noteworthy that the North African nation has obtained a $1.130 billion tranche from the ITFC as part of a framework agreement worth $3 billion.
Egyptian companies have received about $180 million under the Arab Africa Trade Bridges (AATB) programme launched by ITFC in 2017, he added.
