Arab Finance: Egypt and the International Islamic Trade Finance Corporation (ITFC) signed the Annual Work Program for 2026 at a value of a $1.5 billion, extending their successful development partnership, according to a statement.

Commenting on the agreement, Minister of Planning and Economic Development Ahmed Rostom noted that the program targets reinforcing the state's efforts to provide essential commodities by offering integrated financing solutions with a funding worth $1.5 billion; the General Authority for Supply Commodities (GASC) will receive $700 million, and the Egyptian General Petroleum Corporation (EGPC) will be granted $800 million.

Rostom praised the fruitful cooperation and the important role played by the ITFC as a strategic development partner for Egypt that supports the country in providing basic food commodities and petroleum products, backing food and energy security, particularly amid current economic challenges and global instability.

Since 2008, Egypt and ITFC have signed five framework agreements at a combined value of $24 billion. The latest framework agreement, originally signed in 2018, was renewed in 2022 for an additional five years to provide innovative financing solutions for various development sectors.

This partnership played a vital role in fostering Egypt's economic and social development priorities by securing funding and support programs for key sectors. It has also contributed to trade development, women's economic empowerment, technical support, training, and capacity building in export-related fields while encouraging intra-Arab and African trade.