Egypt, ITFC have up to $17bn cooperation portfolio: El-Said

Daily News Egypt
2 Min Read

Hala El-Said, Minister of Planning and Economic Development who also acts as Governor of Egypt at the Islamic Development Bank Group (IsDB), has participated in the celebration of the 15th anniversary of the International Islamic Trade Finance Corporation (IITFC), as part of the annual meetings of the Islamic Development Bank Group (IsDB) in Saudi Arabia.

She asserted that the institution is moving steadily towards providing commercial and financing solutions that meet the needs of the member states of the Organisation of Islamic Cooperation (OIC), and within a few years, it occupied a prominent position among the member institutions of IsDB, in particular.

El-Said pointed out that this honor is the culmination of an extended and fruitful journey of fifteen years between the Arab Republic of Egypt and the Foundation, during which the Foundation played a pivotal and tangible role in providing commercial and financing solutions, supporting initiatives and projects of the state, private sector institutions and Egyptian civil society, strengthening internal value chains and driving growth.

She added that this process has so far yielded a cooperation portfolio worth close to $17 bn, reflecting the importance of this effective strategic partnership between the two sides, which is consistent with the Egyptian state’s tendency to strengthen development partnerships and ensure concerted efforts between all development partners, whether local or regional.

El-Said explained that this honor and these positive returns for the development partnership that brings Egypt together with the International Islamic Trade Finance Corporation is the result of coordination and continuous work from both sides.

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