A consortium of international finance institutions has agreed to disburse the first USD 400 mn tranche of a USD 662 mn short-term credit facility to the EGPC, a source from one of the institutions tells Al Mal. The group agreed to disburse the tranche after the EGPC secured a letter of guarantee from the Finance Ministry for the tranche. The consortium is led by the International Islamic Trade Finance Corporation and includes Islami Bangladesh Bank, Saudi Arabia’s National Commercial Bank, and Dubai Islamic Bank.

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