The Economist of the Middle East
Friday, the Egyptian Cabinet announced that Egypt and the International Islamic Trade Finance Corporation have signed the amended framework agreement to finance the import of basic commodities with a credit limit of $6 billion.
Egypt, which is dependent on imports, used the money to buy basic items such as wheat and petroleum.
The Minister of International Cooperation, Dr. Rania Al-Mashat, who signed the agreement with the CEO of the International Islamic Trade Finance Corporation, Engineer Hani Sonbol, said that the agreement reflects the strategic relations between Egypt, the Islamic Development Bank Group, and the International Islamic Trade Finance Corporation, and the relations of development cooperation that have strengthened the country’s efforts in Providing basic commodities.
She added that the framework agreement comes to expand the scope of cooperation with the International Islamic Trade Finance Corporation, and to expand the scope of cooperation that began in 2008 and resulted in many cooperation programs that reflected the country’s priorities, pushed efforts to achieve food security and provide strategic products.
