Middle East Economic Survey

VOL. LIII

No 27

5-Jul-2010

EGYPT

ITFC Lines Up $358Mn Of Trade Finance For Egypt

The International Islamic Trade Finance Corporation (ITFC), an autonomous entity within the Jiddah-based Islamic Development Bank (IDB) Group, has organized a series of trade finance operations for Egypt valued at $358mn. This represents an increase of 138% over 2009 funding for Egypt, according to a 1 July ITFC statement. The funding is intended to enable the Egyptian General Petroleum...