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Egypt requests 150% annual wheat credit limit increase from ITFC

The Egyptian government has submitted a request to the International Islamic Trade Finance Corporation (ITFC), a subsidiary of the Islamic Development Bank (IsDB), to increase its yearly-obtained credit limit by roughly 150% to $500 million.

Updated 5/2/2024 2:40:00 AM
IsDB’s investment portfolio in Egypt hits $22B

The Islamic Development Bank’s (IsDB) investment portfolio in Egypt has reached $22 billion, Minister of Planning and Economic Development Hala Elsaid stated on the sidelines of the 2024 Annual Meetings of IsDB in Riyadh.

Updated 4/29/2024 7:56:00 AM
Parliament ratifies $460.4M loan agreements with Korea Eximbank, IsDB

The Egyptian House of Representatives has authorized two $460.4 million financing agreement between the Egyptian government, the Export-Import Bank of Korea (Korea Eximbank), and the Islamic Development Bank (IsDB) and its institute (IsDBI) in the field of sustainable transport and development.

Updated 12/24/2023 8:20:00 AM