The Islamic State for Arabic: Raising the financing ceiling for Egypt from 3 to 6 billion dollars

The head of the Islamic Corporation for Trade Finance, Hani Sonbol, revealed in an interview with Al-Arabiya that the financing ceiling for Egypt had been raised from $3 billion to $6 billion.

Hani Sonbol said that the funding obtained by the Egyptian government amounted to 14 billion dollars, within the framework agreement, explaining: “The funding granted by the Foundation to Egypt since the beginning of the year exceeded 700 million dollars.”

He added that the portfolio of the Islamic Corporation for the Development of the Private Sector with banks such as Banque Misr, Faisal Islamic Bank, and Egyptian food processing companies amounts to $280 million.

He explained that there are Egyptian ministries that have submitted new requests to finance the import of food commodities.

He pointed out that there is a follow-up to the asset sale program in Egypt, which includes offering hotels and banks, and we also have interest in some sectors, but we are still in the early stages.

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