{"id":557320,"date":"2021-09-14T04:00:55","date_gmt":"2021-09-14T04:00:55","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/itfc-could-triple-the-funding-it-gives-egypt-for-food-commodities\/"},"modified":"2021-09-14T04:00:55","modified_gmt":"2021-09-14T04:00:55","slug":"itfc-could-triple-the-funding-it-gives-egypt-for-food-commodities","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/itfc-could-triple-the-funding-it-gives-egypt-for-food-commodities\/","title":{"rendered":"ITFC could triple the funding it gives Egypt for food commodities"},"content":{"rendered":"<p><strong>The International Islamic Trade Finance Corporation (ITFC) could triple the <\/strong><strong>funding it <\/strong><strong>gives Egypt for food commodities<\/strong>, 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 <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/153368593500236\">USD 400 mn<\/a><sup><\/sup> to USD 1.3 bn, provided the money only be spent on basic commodities such as wheat, oil and sugar, he told <a href=\"https:\/\/bit.ly\/2X9qc2t\">Al Mal<\/a>. The ITFC has not commented publicly on the suggestion.<\/p>\n<p><strong>It\u2019s not clear from the article whether the minister is referring to an extension of the current <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d9c38c88-b58b-49de-b9eb-d81002013051\">USD 1.1 bn loan<\/a><\/strong> agreed in January for the 2021 calendar year, or whether he is talking about negotiating a future loan.<\/p>\n<p><strong>Jordan will not allow first-time GCC work visa holders to transit through the country for two weeks<\/strong> in a decision that will potentially affect thousands of Egyptian workers transiting through Jordan to work in KSA. The <a href=\"https:\/\/www.facebook.com\/permalink.php?story_fbid=231577342336784&id=100064535599158\">Manpower Ministry said<\/a> yesterday that the Jordanian tourism ministry decided to introduce the restrictions after \u201cchaos and confusion\u201d caused by travel agents who failed to ensure appropriate accommodation for travelers or to confirm that they had left Jordan on their scheduled dates of departure. Jordan is currently considered the most affordable transit point for travelers to Saudi Arabia and is used by Egyptian workers with Saudi residence permits, who quarantine in Jordan before continuing on to Saudi Arabia.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning: <\/strong><\/p>\n<ul>\n<li><strong>Housing and Development Bank will more than triple its issued capital to <\/strong><strong>EGP 5.31 bn<\/strong> from EGP 1.52 bn using reserves and retained earnings from the previous year, after receiving regulatory approval, it said in a <a href=\"https:\/\/ent.news\/2021\/9\/Housing-Development-Bank-Capital-Increase-Bourse-Statement.pdf\">bourse filing (pdf)<\/a>.<\/li>\n<li><strong>Real estate developer Master Group has signed an EGP 600 mn contract <\/strong><strong>with contracting firm Kenaaz<\/strong> to implement the second phase of its The City project in the new administrative capital, <a href=\"https:\/\/bit.ly\/3loFHfg\">Hapi Journal<\/a> reports, citing a company statement.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>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 1.3 bn, provided the money [&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":[7209],"tags":[111,72,777],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-557320","post","type-post","status-publish","format-standard","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-enterpriseam","tag-supply-ministry","wpautop","entry"],"acf":{"mongo_id":"c19f3423-d815-400f-8c95-ef8c04fb45ae","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[557297],"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>ITFC could triple the funding it gives Egypt for food commodities - 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\/2021\/09\/14\/itfc-could-triple-the-funding-it-gives-egypt-for-food-commodities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ITFC could triple the funding it gives Egypt for food commodities\" \/>\n<meta property=\"og:description\" content=\"The International Islamic Trade Finance Corporation (ITFC) could triple the funding it gives Egypt for food commodities, Supply Minister Aly El Moselhy has claimed. 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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":543575,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/08\/more-financing-from-itfc-could-be-coming-our-way-in-february\/","url_meta":{"origin":557320,"position":1},"title":"More financing from ITFC could be coming our way in February","author":"enterpriseam admin","date":"8 February 2022","format":false,"excerpt":"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\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\/96.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":557320,"position":2},"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":542924,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/24\/another-usd-2-6-bn-in-itfc-financing-on-the-horizon\/","url_meta":{"origin":557320,"position":3},"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 &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":[]},{"id":546692,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/were-getting-another-usd-3-bn-for-wheat-imports-from-the-itfc\/","url_meta":{"origin":557320,"position":4},"title":"We\u2019re getting another USD 3 bn for wheat imports from the ITFC","author":"enterpriseam admin","date":"25 May 2022","format":false,"excerpt":"We\u2019re getting an additional USD 3 bn from ITFC to help us through the commodities crunch: The International Islamic Trade Finance Corporation (ITFC) has raised the ceiling for its financing agreement with Egypt to USD 6 bn from USD 3 bn, Supply Minister Ali El Moselhy told Al Hekaya\u2019s Amr\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\/5\/333.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":599373,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/26\/egypt-to-sign-second-tranche-of-trade-financing-agreement-with-itfc-in-july\/","url_meta":{"origin":557320,"position":5},"title":"Egypt to sign second tranche of trade financing agreement with ITFC in July","author":"enterpriseam admin","date":"26 June 2019","format":false,"excerpt":"EXCLUSIVE- Egypt to sign second USD 1.5 bn tranche of trade financing agreement with ITFC in July: The Egyptian General Petroleum Corporation (EGPC) and General Authority for Supply Commodities (GASC) are expected to sign contracts for the USD 1.5 bn second tranche of a USD 3 bn trade finance facility\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/557320","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=557320"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/557320\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/557297"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=557320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=557320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=557320"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=557320"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=557320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}