Egypt finalises USD3bn loan to help finance essential imports
The International Islamic Trade Finance Corporation (ITFC) will lend Egypt USD3bn before the end of next year to be used for imports of petroleum derivatives and basic commodities, ITFC CEO Hani Sonbol told Al Mal. This is the second facility of that size the government has landed from ITFC recently. In September, the two sides also signed a USD3bn facility, including USD1bn to finance the purchase of basic goods and foodstuffs.
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