{"id":543575,"date":"2022-02-08T03:51:45","date_gmt":"2022-02-08T03:51:45","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/08\/more-financing-from-itfc-could-be-coming-our-way-in-february\/"},"modified":"2022-02-08T03:51:45","modified_gmt":"2022-02-08T03:51:45","slug":"more-financing-from-itfc-could-be-coming-our-way-in-february","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/08\/more-financing-from-itfc-could-be-coming-our-way-in-february\/","title":{"rendered":"More financing from ITFC could be coming our way in February"},"content":{"rendered":"

<\/a> The Madbouly government plans to finalize as early as this month a new <\/strong>financing program for 2022 with the <\/strong>International Islamic Trade Finance Corporation (ITFC)<\/strong>, the Planning Ministry said yesterday in a statement<\/a>, adding that part of the funding will go towards supporting micro, small, and medium-sized enterprises. The statement did not disclose further details on the program<\/p>\n

A USD 2.6 bn package?<\/strong> In a meeting with Trade Minister Nevine Gamea last month<\/a>, ITFC CEO Hani Sonbol said the corporation had approved USD 2.6 bn in funding for \u201cdevelopment projects\u201d in Egypt, according to a ministry statement. No further details were given on where the money would be spent, nor when it would be disbursed.<\/p>\n

Planning Minister Hala El Said is currently in Jeddah, where ITFC is headquartered. <\/strong>El Said discussed potential cooperation with Sonbol, including launching an academy for exporting in Egypt as well as programs for women\u2019s economic empowerment, the statement said.<\/p>\n

2021 was \u201ca record year\u201d for ITFC funding to Egypt, <\/strong>the statement quotes El Said as saying. The ITFC provided the General Authority for Supply Commodities (GASC) and the Egyptian General Petroleum Corporation USD 2.3 bn in financing last year for the import of basic commodities including wheat, and petroleum products.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Madbouly government plans to finalize as early as this month a new financing program for 2022 with the International Islamic Trade Finance Corporation (ITFC), the Planning Ministry said yesterday in a statement, adding that part of the funding will go towards supporting micro, small, and medium-sized enterprises. The statement did not disclose further details […]<\/p>\n","protected":false},"author":1,"featured_media":543576,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7576],"tags":[7106,101,72,727,555,443,845,678],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-543575","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development-finance","tag-debt","tag-development-finance","tag-enterpriseam","tag-hala-el-said","tag-hani-sonbol","tag-international-cooperation-ministry","tag-international-islamic-trade-finance-corporation","tag-planning-ministry","wpautop","entry"],"acf":{"mongo_id":"a12249a9-2828-4a85-aff1-39fab4212022","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/2\/96.jpg","photo_position":"above","related_issue":[543567],"teaser":"","voice_url":""},"yoast_head":"\nMore financing from ITFC could be coming our way in February - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/08\/more-financing-from-itfc-could-be-coming-our-way-in-february\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"More financing from ITFC could be coming our way in February\" \/>\n<meta property=\"og:description\" content=\"The Madbouly government plans to finalize as early as this month a new financing program for 2022 with the International Islamic Trade Finance Corporation (ITFC), the Planning Ministry said yesterday in a statement, adding that part of the funding will go towards supporting micro, small, and medium-sized enterprises. The statement did not disclose further details […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/08\/more-financing-from-itfc-could-be-coming-our-way-in-february\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-08T03:51:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/96.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/08\/more-financing-from-itfc-could-be-coming-our-way-in-february\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/08\/more-financing-from-itfc-could-be-coming-our-way-in-february\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"More financing from ITFC could be coming our way in February\",\"datePublished\":\"2022-02-08T03:51:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/08\/more-financing-from-itfc-could-be-coming-our-way-in-february\/\"},\"wordCount\":212,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/08\/more-financing-from-itfc-could-be-coming-our-way-in-february\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/96.jpg?fit=%2C&ssl=1\",\"keywords\":[\"debt\",\"development finance\",\"EnterpriseAM\",\"Hala El Said\",\"Hani Sonbol\",\"International Cooperation Ministry\",\"International Islamic Trade Finance Corporation\",\"Planning Ministry\"],\"articleSection\":[\"Development finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/08\/more-financing-from-itfc-could-be-coming-our-way-in-february\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/08\/more-financing-from-itfc-could-be-coming-our-way-in-february\/\",\"name\":\"More financing from ITFC could be coming our way in February - 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The agreement earmarks\u2026","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/220.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542924,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/24\/another-usd-2-6-bn-in-itfc-financing-on-the-horizon\/","url_meta":{"origin":543575,"position":1},"title":"Another USD 2.6 bn in ITFC financing on the horizon?","author":"enterpriseam admin","date":"24 January 2022","format":false,"excerpt":"Egypt to get USD 2.6 bn in financing from ITFC? The International Islamic Trade Finance Corporation (ITFC) has approved USD 2.6 bn in funding for \u201cdevelopment projects\u201d in Egypt, ITFC CEO Hani Sonbol said following a meeting with Trade Minister Nevine Gamea, according to a ministry statement. No further details\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":601508,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/03\/egypt-uses-usd-213-mn-from-itfc-to-buy-wheat\/","url_meta":{"origin":543575,"position":2},"title":"Egypt uses USD 213 mn from ITFC to buy wheat","author":"enterpriseam admin","date":"3 March 2019","format":false,"excerpt":"The Supply Ministry secured USD 213 mn in funding from the Islamic Trade Finance Corporation (ITFC) to buy 1.02 mn tonnes of wheat, sufficient till the end of the fiscal year in June, Reuters Arabic Service reported, citing a ministry statement. State grain buyer GASC secured last month USD 1\u2026","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":579035,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/23\/another-usd-1-5-bn-from-the-itfc-for-energy-and-commodities-imports\/","url_meta":{"origin":543575,"position":3},"title":"Another USD 1.5 bn from the ITFC for energy and commodities imports","author":"enterpriseam admin","date":"23 January 2023","format":false,"excerpt":"More imports money from the ITFC: The government has signed a fresh USD 1.5 bn financing agreement with the International Islamic Trade Finance Corporation (ITFC) to fund energy and basic commodities imports, according to a tweet by CNBC Arabia citing ITFC CEO Hani Sonbol. Sonbol yesterday met with the planning\u2026","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/387.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597254,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/itfc-to-provide-usd-50-mn-in-loans-to-egyptian-smes-in-2020\/","url_meta":{"origin":543575,"position":4},"title":"ITFC to provide USD 50 mn in loans to Egyptian SMEs in 2020","author":"enterpriseam admin","date":"21 July 2019","format":false,"excerpt":"ITFC to provide USD 50 mn in SME loans in 2020: The Islamic Trade Finance Corporation (ITFC) will channel a USD 50 mn facility through local banks to finance SMEs in January 2020, CEO Hani Sonbol told Masrawy, without revealing which banks the ITFC will be working with. This will\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":627050,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/18\/egypt-to-receive-usd-380-mn-tranche-of-usd-3-bn-loan-from-itfc\/","url_meta":{"origin":543575,"position":5},"title":"Egypt to receive USD 380 mn tranche of USD 3 bn loan from ITFC","author":"enterpriseam admin","date":"18 July 2018","format":false,"excerpt":"Egypt to receive USD 380 mn tranche of USD 3 bn loan from ITFC: The International Islamic Trade Finance Corporation (ITFC) signed off on the disbursal of the first tranche of a USD 3 bn loan agreement signed with Egypt last January, ITFC CEO Hani Sonbol said yesterday, Al Mal\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/543575","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=543575"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/543575\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/543567"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/543576"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=543575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=543575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=543575"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=543575"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=543575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}