Arab Finance: The International Islamic Trade Finance Corporation (ITFC) has invested over EGP 16.5 billion in Egypt since 2008, supporting sectors like petroleum, food commodities, and various development projects, as per a statement.

The announcement was made during a meeting between the Egyptian Minister of Finance Ahmed Kouchouk and ITFC's CEO Hani Sonbol.

The talks focused on strengthening bilateral cooperation to enhance Egypt’s investment climate, with upcoming tax reforms aimed at simplifying procedures for businesses and freelancers.

Sonbol affirmed the ITFC’s commitment to supporting Egypt’s economic policies and boosting export activities.

For his part, Kouchouk said that budget performance indicators for the first two months of the fiscal year (FY) 2024/2025 are "good" and contribute to ongoing economic stability.

They also discussed Egypt's plans to issue green bonds and local sukuk to manage and reduce debt burdens.

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