{"id":546968,"date":"2022-06-05T04:07:45","date_gmt":"2022-06-05T04:07:45","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/this-morning-of-climate-finance-commodities-its-getting-hot\/"},"modified":"2022-06-05T04:07:45","modified_gmt":"2022-06-05T04:07:45","slug":"this-morning-of-climate-finance-commodities-its-getting-hot","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/this-morning-of-climate-finance-commodities-its-getting-hot\/","title":{"rendered":"THIS MORNING: Of climate finance + commodities + It\u2019s getting hot"},"content":{"rendered":"<p><strong>Good morning, wonderful people. It\u2019s all about commodities and climate <\/strong>as we start the first full workweek of June.<\/p>\n<p><strong>THE BIG STORY here at home: Egypt lined up a potential USD 3.5 bn in fresh financing at <\/strong><strong>the Islamic Development Bank\u2019s annual meeting<\/strong> in Sharm El Sheikh this past weekend. That includes USD 3 bn in additional funding for food and energy imports with the International Islamic Trade Finance Corporation (ITFC) and a potential USD 500 mn program with the World Bank to buy, store and grow more wheat.<\/p>\n<p><strong>The Madbouly government is also in talks with India on a potential wheat-for-fertilizer<\/strong> swap.<\/p>\n<p><strong>PLUS- The UAE investment train keeps on rolling this morning:<\/strong><\/p>\n<ul>\n<li>Our friends at <strong>Infinity<\/strong> are reported to be working with the UAE\u2019s <strong>Masdar<\/strong> to acquire <strong>Actis<\/strong>\u2019 60% stake in renewables player <strong>Lekela<\/strong>;<\/li>\n<li><strong>Al Futtaim Group<\/strong> could invest another USD 1 bn here through 2025 and is looking to bring more of its foreign partners to invest in Egypt, the group\u2019s CEO says.<\/li>\n<\/ul>\n<p><strong>The commodity and financing news came out of Sharm El Sheikh, where we attended the <\/strong><strong>Islamic Development <\/strong><strong>Bank\u2019s (IsDB) annual meetings<\/strong> this weekend. \u201cCOP Lite,\u201d as we\u2019ve taken to thinking of the gathering, brought together a who\u2019s who of Egyptian and global leaders including CEOs of multinationals, ministers from IsDB member countries, policymakers, NGOs, and startup founders. The meeting featured a strong showing from top Egyptian officials, where the driving narrative foreshadows their agenda for this fall\u2019s COP27: How to turn the policy direction of COP26 from empty platitudes to real implementation.<\/p>\n<p><strong>The meetings also gave policymakers a chance to have frank discussions.<\/strong> And we mean it when we say frank: Hard and uncomfortable truths were said and acknowledged in panel discussions \u2014 we have a recap below, at the end of this morning\u2019s news well.<\/p>\n<p><strong>ON A RELATED NOTE- The bank has a new HQ in Omm El Donia:<\/strong> The IsDB officially launched its new regional headquarters in Cairo, with bank President Muhammad Al Jasser saying in <a href=\"https:\/\/ent.news\/2022\/6\/IsDB-Regionl-Headquarter-EN-Press-Release.pdf\">a statement<\/a><a href=\"https:\/\/ent.news\/2022\/6\/IsDB-Regionl-Headquarter-EN-Press-Release.pdf\">(pdf)<\/a> that the move was part of its \u201ckeenness to reinforce cooperation and coordination with development partners, as well as to establish strong partnerships with private sector [institutions].\u201d<\/p>\n<p><strong>We\u2019d like to thank Planning Minister Hala El Said <\/strong>\u2014 who played host to the meetings \u2014 and her team for inviting us to be flies on the wall during the discussions, which left us feeling that these meetings are a harbinger of what\u2019s to come in COP27.<\/p>\n<hr class=\"grey-line\">\n<p><strong>PSA- We have a warm week in store:<\/strong> The Egyptian Meteorological Authority (EMA) is <a href=\"https:\/\/bit.ly\/3Q0XV5a\">warning<\/a> of an \u201cextremely hot\u201d week ahead, with highs in the capital of 35-37\u00b0C, through Friday. Our favorite weather app, meanwhile, is predicting that the mercury could tip as high as 42\u00b0C by the end of the workweek.<\/p>\n<p><strong>WHAT\u2019S HAPPENING TODAY- <\/strong><\/p>\n<p><strong>It\u2019s PMI day: <\/strong>Purchasing managers\u2019 index figures for Egypt and Saudi Arabia will be released this morning at 06:15 CLT. Egypt\u2019s non-oil private sector <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/55e827e3-667f-4b12-a44d-b4c0b49a7efd\">contracted for the 17th consecutive month<\/a> in April as rising inflation hit demand and output.<\/p>\n<p><strong>Capmas\u2019 monthly bulletin covering the price of key building materials<\/strong> is also due out today.<\/p>\n<p><strong>Expect healthcare to be in the headlines over the coming days:<\/strong> <strong><a href=\"https:\/\/www.africahealthexcon.com\/\">Africa Health ExCon<\/a><\/strong> <strong>starts today<\/strong> and runs through to Tuesday, 7 June, at Al Manara International Conference Center, Egypt International Exhibitions Center, and the St. Regis Almasa Hotel in the new administrative capital.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>IN THE HOUSE THIS WEEK- Industrial investment, tackling pollution + mud tax.<\/strong> The House of Representatives is holding plenary sessions today through at least Tuesday. On the docket:<\/p>\n<ul>\n<li><strong>Trade and Industry Minister Nevine Gamea will today answer MPs' questions<\/strong> on government plans boost investment in industry, improve the business environment for manufacturers, and localize certain sectors including the automobile industry .<\/li>\n<li><strong>Environment Minister Yasmine Fouad is in the House on Monday<\/strong> to talk tackling pollution in our waterways, beaches, and natural reserves.<\/li>\n<li><strong>Mud tax talks: <\/strong>Tuesday will see discussion of reports on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2ceb1a6b-f9f3-49df-aa6d-a1112cf3e199\">potentially extending<\/a> the suspension of a 14% tax on agricultural land for an additional year to July 2023.<\/li>\n<\/ul>\n<p><strong>ALSO THIS MONTH- Gas agreement with the EU this month?<\/strong> Egypt and Israel will sign an agreement with the EU this month to increase LNG exports as the bloc scrambles to find new suppliers and unwind its dependence on Russian gas, according to a draft document seen by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-03\/eu-egypt-near-gas-supply-deal-in-shift-away-from-russia?sref=mmeFTDW1\">Bloomberg<\/a>. The two countries are expected to come to an agreement when European Commission President Ursula von der Leyen visits Egypt this month, the business newswire said. Bloomberg <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d89110c-6632-4594-a785-54b9b0122a75\">reported last month<\/a> that the plan would see Israel increase natural gas exports to Egypt\u2019s LNG facilities, from which the gas would be shipped to Europe.<\/p>\n<p><strong>One problem: Lack of capacity.<\/strong> With only two liquefaction plants, Egypt doesn\u2019t currently have the requisite capacity to supply Europe with the volumes of gas that it needs. Oil Minister Tarek El Molla said recently that it might be <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/efd93e2f-38b1-4d5a-845c-55538c31513c\">another two or three years<\/a> until Egypt is able to increase its exports across the Mediterranean.<\/p>\n<p><strong>The Madbouly government is well aware:<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/248f9feb-5ba0-4777-b6a8-e910c3e8cc67\">New LNG terminals and pipelines<\/a> are in the government\u2019s infrastructure plans as it looks to position itself as a critical gas supplier to Europe in the coming years.<\/p>\n<p><strong>NOT HAPPENING THIS MONTH- Our maiden sovereign sukuk issuance.<\/strong> Egypt has pushed the issuance of its sovereign sukuk to FY 2022-2023, Finance Minister Mohamed Maait told <a href=\"https:\/\/english.ahram.org.eg\/NewsContent\/3\/12\/467384\/Business\/Economy\/Egypt-delays-sukuk-issuance-to-FY-Finance-minister.aspx\">Ahram Online<\/a>. With the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b928d4cf-bb03-4476-ac92-ab204195f858\">executive regulations<\/a> of the Sovereign Sukuk Act not yet published and market conditions still see-sawing over Russia\u2019s invasion of Ukraine, Maait\u2019s confirmation that our first sovereign sukuk issuance will not be taking place by the end of this fiscal year <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/88126f66-190a-4cdd-a26b-d5ce65a7e762\">as was hoped<\/a> should come as no surprise.<\/p>\n<p><strong>NEWS TRIGGERS you\u2019ll want to keep an eye on as the new month gets underway:<\/strong><\/p>\n<ul>\n<li><strong>Foreign reserves figures for May<\/strong> should be announced sometime this week;<\/li>\n<li><strong>Inflation figures for May<\/strong> are due out on Saturday, 9 June (from state statistics agency Capmas) and Sunday, 12 June (central bank figures);<\/li>\n<li><strong>The Central Bank of Egypt holds its policy meeting<\/strong> on Thursday, 23 June.<\/li>\n<\/ul>\n<p><strong>Technology conference <\/strong><strong><a href=\"https:\/\/www.eventbrite.com\/e\/tech-invest-4-tickets-338929546397\">Tech Invest 4<\/a><\/strong><strong> will take place on Tuesday<\/strong>, 7 June at the Grand Nile Hotel in Cairo.<\/p>\n<p><strong>NEXT MONTH- Follow-up on the Egypt-UAE-Jordan industrial partnership:<\/strong> Egypt, the UAE and Jordan will meet in Cairo in July to follow up on the industrial partnership agreed last week in Abu Dhabi, the Egyptian Trade Ministry said in <a href=\"https:\/\/www.facebook.com\/mift.media\/posts\/388992066605407\">a statement<\/a> Friday. Bolstered by <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/248f9feb-5ba0-4777-b6a8-e910c3e8cc67\">USD 10 bn in investment<\/a> from ADQ, the initiative will look to support sustainable economic growth and increase industrial production by channeling finance into industrial projects in the three countries.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p><strong>THE BIG STORY ABROAD-<\/strong><\/p>\n<p><strong>The global business press is still bemoaning the state of markets around the world<\/strong> as inflationary pressures mount on asset classes everywhere and the R-word is bandied about with increasing abandon (see: <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-03\/lockstep-stock-market-is-forcing-everyone-to-be-a-macro-trader?srnd=premium-middle-east#xj4y7vzkg\">Bloomberg<\/a> on how all equities traders care about now is macro and why <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-04\/for-intangible-asset-craze-it-s-midnight-in-the-stock-market?srnd=premium-middle-east#xj4y7vzkg\">easy money is dead<\/a>.)<\/p>\n<p><strong>Welcome to the party, Elon: The Tesla boss has a \u201csuper bad feeling\u201d about the <\/strong><strong>economy <\/strong>\u2014 and told execs at the EV-maker they\u2019d be laying off 10% of the workforce as a result \u2014 before apparently backtracking on the comments a day later, <a href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/musk-says-teslas-total-headcount-will-increase-over-next-12-months-2022-06-04\/\">Reuters<\/a> reports. While they try and figure out whether or not they could in fact be let go, Tesla employees are unlikely to be comforted by Musk\u2019s <a href=\"https:\/\/www.theguardian.com\/technology\/2022\/may\/28\/elon-musk-welcomes-global-recession-its-been-raining-money-on-fools-for-too-long\">recent analysis<\/a> welcoming a recession since \u201cit\u2019s been raining money on fools for too long.\u201d<\/p>\n<p><strong>And there\u2019s bickering in the US over who exactly failed to predict decades-high inflation:<\/strong> US Treasury Secretary Janet Yellen is <a href=\"https:\/\/www.ft.com\/content\/35161e68-8d4b-40d0-bf61-19dd9dfba121\">insisting that she didn\u2019t forewarn Joe Biden<\/a> that pumping USD bns of stimulus into the economy could help stoke price hikes, as a new book claims she did.<\/p>\n<p class='web-image' ><a href='https:\/\/whatsnext.enterprise.press\/'><img data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/Whats-Next-Vertical-Banner-En-1600-1.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p><strong>*** It\u2019s What\u2019s Next day:<\/strong> We have our weekly deep-dive into what makes and shapes pre-listed companies and startups in Egypt, the UAE and KSA, touching on investment trends, future sector insights and growth journeys.<\/p>\n<p><strong>In today\u2019s issue:<\/strong> <strong>What\u2019s next for Nigeria\u2019s startup ecosystem \u2014 and how can Egyptian <\/strong><strong>startups <\/strong><strong>expand there?<\/strong> We continue to disseminate all the knowledge gleaned from our recent trip to Lagos and the discussions we were lucky enough to have with some of the brightest lights in Nigeria\u2019s entrepreneurial scene. This week, we look at how the Nigerian startup scene will develop, what challenges companies face, and how Egyptian startups can expand into the country.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, wonderful people. It\u2019s all about commodities and climate as we start the first full workweek of June. THE BIG STORY here at home: Egypt lined up a potential USD 3.5 bn in fresh financing at the Islamic Development Bank\u2019s annual meeting in Sharm El Sheikh this past weekend. That includes USD 3 bn [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[7204],"tags":[104,637,72,274,1995,185,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546968","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-economy","tag-elon-musk","tag-enterpriseam","tag-house-of-representatives","tag-islamic-development-bank-isdb","tag-pmi","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"9248f059-1af9-4bd6-b271-5a9316250186","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[546966],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>THIS MORNING: Of climate finance + commodities + It\u2019s getting hot - 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\/06\/05\/this-morning-of-climate-finance-commodities-its-getting-hot\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS MORNING: Of climate finance + commodities + It\u2019s getting hot\" \/>\n<meta property=\"og:description\" content=\"Good morning, wonderful people. It\u2019s all about commodities and climate as we start the first full workweek of June. THE BIG STORY here at home: Egypt lined up a potential USD 3.5 bn in fresh financing at the Islamic Development Bank\u2019s annual meeting in Sharm El Sheikh this past weekend. That includes USD 3 bn [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/this-morning-of-climate-finance-commodities-its-getting-hot\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-05T04:07:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ent.news\/2021\/11\/Whats-Next-Vertical-Banner-En-1600-1.jpg\" \/>\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=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/this-morning-of-climate-finance-commodities-its-getting-hot\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/this-morning-of-climate-finance-commodities-its-getting-hot\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"THIS MORNING: Of climate finance + commodities + It\u2019s getting hot\",\"datePublished\":\"2022-06-05T04:07:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/this-morning-of-climate-finance-commodities-its-getting-hot\/\"},\"wordCount\":1458,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/this-morning-of-climate-finance-commodities-its-getting-hot\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ent.news\/2021\/11\/Whats-Next-Vertical-Banner-En-1600-1.jpg\",\"keywords\":[\"economy\",\"Elon Musk\",\"EnterpriseAM\",\"House of Representatives\",\"Islamic Development Bank (IsDB)\",\"PMI\",\"What We're Tracking Today\"],\"articleSection\":[\"What We're Tracking Today\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/this-morning-of-climate-finance-commodities-its-getting-hot\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/this-morning-of-climate-finance-commodities-its-getting-hot\/\",\"name\":\"THIS MORNING: Of climate finance + commodities + It\u2019s getting hot - 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EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/this-morning-of-climate-finance-commodities-its-getting-hot\/","og_locale":"en_US","og_type":"article","og_title":"THIS MORNING: Of climate finance + commodities + It\u2019s getting hot","og_description":"Good morning, wonderful people. It\u2019s all about commodities and climate as we start the first full workweek of June. THE BIG STORY here at home: Egypt lined up a potential USD 3.5 bn in fresh financing at the Islamic Development Bank\u2019s annual meeting in Sharm El Sheikh this past weekend. That includes USD 3 bn [&hellip;]","og_url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/this-morning-of-climate-finance-commodities-its-getting-hot\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2022-06-05T04:07:45+00:00","og_image":[{"url":"https:\/\/ent.news\/2021\/11\/Whats-Next-Vertical-Banner-En-1600-1.jpg","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/this-morning-of-climate-finance-commodities-its-getting-hot\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/this-morning-of-climate-finance-commodities-its-getting-hot\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"THIS MORNING: Of climate finance + commodities + It\u2019s getting hot","datePublished":"2022-06-05T04:07:45+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/this-morning-of-climate-finance-commodities-its-getting-hot\/"},"wordCount":1458,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/this-morning-of-climate-finance-commodities-its-getting-hot\/#primaryimage"},"thumbnailUrl":"https:\/\/ent.news\/2021\/11\/Whats-Next-Vertical-Banner-En-1600-1.jpg","keywords":["economy","Elon Musk","EnterpriseAM","House of Representatives","Islamic Development Bank (IsDB)","PMI","What We're Tracking Today"],"articleSection":["What We're Tracking Today"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/this-morning-of-climate-finance-commodities-its-getting-hot\/","url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/this-morning-of-climate-finance-commodities-its-getting-hot\/","name":"THIS MORNING: Of climate finance + commodities + It\u2019s getting hot - 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First up: We\u2019re getting that USD 3 bn from the ITFC. The International Islamic Trade Finance Corporation (ITFC) has raised the ceiling for its\u2026","rel":"","context":"In &quot;Commodities&quot;","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/131.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":624418,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/09\/egypt-signs-agreement-to-unlock-usd-3-bn-of-financing-from-itfc-for-essential-commodities\/","url_meta":{"origin":546968,"position":1},"title":"Egypt signs agreement to unlock USD 3 bn of financing from ITFC for essential commodities","author":"enterpriseam admin","date":"9 September 2018","format":false,"excerpt":"Egypt signs agreement to unlock USD 3 bn of financing from Islamic Trade Finance Corp. for essential commodities: Egypt signed on Thursday two agreements to unlock a total of USD 3 bn in financing from the International Islamic Trade Finance Corporation, a subsidiary of the Islamic Development Bank. The financing\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":543749,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/16\/egypt-signs-usd-1-5-bn-funding-agreement-for-basic-imports-with-itfc\/","url_meta":{"origin":546968,"position":2},"title":"Egypt signs USD 1.5 bn funding agreement for basic imports with ITFC","author":"enterpriseam admin","date":"16 February 2022","format":false,"excerpt":"The ITFC is lending us another USD 1.5 bn for petroleum + commodities imports: Egypt has signed a fresh USD 1.5 bn financing agreement with the International Islamic Trade Finance Corporation (ITFC) to fund imports of petroleum and basic commodities, ITFC CEO Hani Sonbol told Bloomberg Asharq. The agreement earmarks\u2026","rel":"","context":"In &quot;Development finance&quot;","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":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":546968,"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 &quot;Development finance&quot;","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":581587,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/16\/this-morning-sovereign-sukuk-as-soon-as-next-week-and-worth-up-to-usd-5-bn_storyhedweb_-egypt-to-issue-its-maiden-sovereign-sukuk-as-soon-as-next-week\/","url_meta":{"origin":546968,"position":4},"title":"THIS MORNING: Sovereign sukuk as soon as next week? And worth up to USD 5 bn?!_StoryHedWeb_! Egypt to issue its maiden sovereign sukuk as soon as next week?","author":"enterpriseam admin","date":"16 February 2023","format":false,"excerpt":"Final timing of the issuance dependent on market conditions","rel":"","context":"In &quot;What We're Tracking Today&quot;","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/11\/sukuk-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557320,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/itfc-could-triple-the-funding-it-gives-egypt-for-food-commodities\/","url_meta":{"origin":546968,"position":5},"title":"ITFC could triple the funding it gives Egypt for food commodities","author":"enterpriseam admin","date":"14 September 2021","format":false,"excerpt":"The International Islamic Trade Finance Corporation (ITFC) could triple the funding it gives Egypt for food commodities, Supply Minister Aly El Moselhy has claimed. The lender has agreed in principle to raise the funding it gives to the General Authority for Supply Commodities (GASC) from USD 400 mn to USD\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546968","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=546968"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546968\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/546966"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=546968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=546968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=546968"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=546968"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=546968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}