Egypt has concluded two financing agreements worth $3 billion with the International Islamic Trade Finance Corporation (ITFC), the corporation indicated in a release last week.

These funds should help Egypt implement projects in its key sectors.

The first agreement worth $1 billion should help supply essentials to about 67 million citizens. As for the second agreement worth $2 billion, it should finance the imports of basic products like oil, petroleum products, and gas.

Let’s remind that these two agreements included, the funding provided to Egypt by the ITFC, subsidiary of the Islamic Development Bank (IDB) amounts to $9.2 billion.

Moutiou Adjibi Nourou