Egypt Export Marketplace for products & services     Log in | Sign up  

Export Egypt Home
made in Egypt Egypt products
  Home  |  Products  |  Business Center  |  News   |  Events   |  My Account Follow us on Facebook
Products and vendors Services and providers Oil & Gas Software and publications

Egypt Signs $3 Bln Agreement with International Islamic Trade Finance Corporation
Source: 1/30/2018

Investment and International Cooperation Minister Sahar Nasr signed a $3 billion agreement with International Islamic Trade Finance Corporation (IITFC) CEO Hani Salem Sonbol to fund the import of basic commodities including oil, petroleum products and wheat, the ministry announced in a statement .

The IITFC provided $6.97 billion to Egypt by 2017, mainly to fund the purchase of crude and petroleum products by the Egyptian General Petroleum Company.

The corporation is an autonomous entity within the Islamic Development Bank Group.

Egypt is the world's largest importer of wheat.

Egypt's imports in the financial year ending on 30 June reached 5.58 million tonnes, up from 4.4 million the previous year

The Supply Ministry said last July that it aims to cut wheat imports by up to 10 percent through flour subsidy reforms.

Egypt's petroleum imports in FY 2016/17 recorded $11.2 billion, up from $9.3 billion, according to the Cenral Bank's Balance of Payments report for fiscal year 2016/17.

Related Categories: Accounting, Statistics  Economics/Financial Analysis  General  Insurance 

Export Egypt - Subscription Packages - Benefits

Copyright Universal Solutions S.A.E. All rights reserved. Privacy Policy. - Career Opportunities - Feedback - Contact Us