ArabFinance: The International Islamic Trade Finance Corporation (ITFC) approved a financing of $2.6 billion to fund developmental projects in Egypt, Ministry of Trade and Industry said in a statement.
The announcement took place during Egypt's Minister of Trade and Industry Nevine Gamea meeting with the Chairman of ITFC Hany Sonbol, discussing the corporation's work plan in Egypt during 2022 in the areas of trade support and women empowerment programs.
The meeting also tackled special arrangements to establish the first exporters' academy in Egypt, pointing out that the academy will provide training programs to support the Egyptian exporters and enhance their ability to access more global markets.
"The ITFC is one of the most important development partners of Egypt, as its projects contribute to supporting the sectors of trade and industry, small and medium enterprises, and women's empowerment projects, in addition to supporting the commercial cooperation between Arab and African countries," Gamea said.
For his part, Sonbol stressed the ITFC's keenness to implement more development programs in Egypt, pointing to the importance of achieving integration among all development partners in Egypt with the aim of achieving the best results to support the Egyptian economy.
Sonbol noted that the annual meeting of the Arab-African Trade Bridges Program will be held in Egypt on March 14th, with the participation of a large number of ministers and representatives of global development institutions.
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