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International Islamic Trade Finance Corp Opens $400 Million Credit Line For Egypt
Source: 2/1/2018

The International Islamic Trade Finance Corporation opened this week a line of credit worth $400 million for Egypt to buy petroleum products as part of the final tranche of a $3 billion finance deal signed in 2015, the company's CEO Hani Sonbol said.

The corporation will start implementing a new $3 billion deal with Egypt in the first half of 2018 for petroleum products and essential commodities, Sonbol told Reuters.

The CEO said that he expects the corporation's trade finance portfolio to rise to $5-5.5 billion in 2018, up from $4.9 billion in 2017.

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