Fri, 27 May 2022

CAIRO, Jan. 19 (Xinhua) -- The International Islamic Trade Finance Corporation (ITFC) approved on Wednesday financing of 2.6 billion U.S. dollars to fund developmental projects in Egypt, the country's Ministry of Trade and Industry said in a statement.

Egypt's Minister of Trade and Industry Nevine Gamea and Chairman of the Board of Directors of ITFC Hany Sonbol discussed the corporation's work plan in Egypt during 2022 in the areas of trade support and women empowerment programs.

Gamea said that "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."

The minister indicated that the meeting 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.

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 added that the annual meeting of the Arab-African Trade Bridges Program will be held in Egypt on March 14, with the participation of a large number of ministers and representatives of global development institutions.

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