ITFC anticipated to disburse $200M tranche to EGPC

Updated 6/13/2024 11:46:00 AM
ITFC anticipated to disburse $200M tranche to EGPC

Arab Finance: The International Islamic Trade Finance Corporation (ITFC) is expected to disburse a $200 million tranche in favor of the Egyptian General Petroleum Corporation (EGPC), ITFC’s CEO Hani Sonbol told Asharq Business.

EGPC will use the tranche to fund the purchase of petroleum derivatives and petrochemicals.

This comes under the fifth framework agreement worth $6 billion signed between Egypt and the ITFC.

Tags
Egypt EGPC ITFC

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