ICD signs 2025 country work program for Egypt
Updated 2/6/2025 7:28:00 AM
Arab Finance: The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank Group (IsDB), has signed the 2025 Country Work Program for Egypt, as per a press release.
The program aims to provide up to $100 million in financing to support private-sector projects in the country.
The 2025 program focuses on enhancing the role of Egypt’s private sector through direct financing, investments, and financing tools aimed at strengthening key sectors such as industry, infrastructure, energy, and agriculture.
It also emphasizes financial inclusion by providing lines of finance to Egyptian banks, particularly to support small and medium-sized enterprises (SMEs).
ICD plans to collaborate with international investors to raise market awareness about Islamic finance and facilitate access to capital markets.
Since its establishment, ICD has provided $315 million in financing to Egypt, supporting private sector companies, offering financial lines to local banks, and making direct investments in critical sectors such as energy, food, and industry.
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