The Islamic Development Bank (IDB) Group revealed that it will provide $16.7 billion in finances to Egypt during the upcoming period.

The funds will be directed to support three sectors, with $2.5 billion dedicated to 60 developmental projects, $8.9 billion for foreign trade, and $368 million for supporting the private sector, according to the president of IDB, Bandar Hajjar.

Hajjar added that the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has contributed $4.9 billion, according to a statement by the Egyptian Ministry of Investment and International Cooperation.

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