{"id":559244,"date":"2021-01-14T03:45:32","date_gmt":"2021-01-14T03:45:32","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/14\/oil-imports-trade-sme-development-get-usd-1-1-bn-shot-in-the-arm\/"},"modified":"2021-01-14T03:45:32","modified_gmt":"2021-01-14T03:45:32","slug":"oil-imports-trade-sme-development-get-usd-1-1-bn-shot-in-the-arm","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/14\/oil-imports-trade-sme-development-get-usd-1-1-bn-shot-in-the-arm\/","title":{"rendered":"Oil imports, trade + SME development get USD 1.1 bn shot in the arm"},"content":{"rendered":"

<\/a> Egypt is getting another USD 1.1 bn loan for imports of petroleum products and <\/strong>basic commodity purchases from the International Islamic Trade Finance Corporation <\/strong>(IFTC) after the two sides signed an agreement yesterday, according to a Planning Ministry statement<\/a>. In addition to financing imports, the money will be used to digitize exporting industries such as cotton and improve value chains, with an emphasis on private sector inclusion. The facility will also be used to support female entrepreneurs with the help of the SheTrades program<\/a>.<\/p>\n

The new funds come as part of a larger five-year USD 3 bn cooperation agreement <\/strong>signed in 2018 to support commodity and fuel purchases, SME growth, and institutional development. The IFTC\u2019s financing portfolio in Egypt has so far reached some USD 11.2 bn. Reuters<\/a> also picked up the story.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt is getting another USD 1.1 bn loan for imports of petroleum products and basic commodity purchases from the International Islamic Trade Finance Corporation (IFTC) after the two sides signed an agreement yesterday, according to a Planning Ministry statement. In addition to financing imports, the money will be used to digitize exporting industries such as […]<\/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":[8516],"tags":[317,72,845,678,132],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-559244","post","type-post","status-publish","format-standard","hentry","category-trade","tag-commodities","tag-enterpriseam","tag-international-islamic-trade-finance-corporation","tag-planning-ministry","tag-trade","wpautop","entry"],"acf":{"mongo_id":"d9c38c88-b58b-49de-b9eb-d81002013051","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[559235],"teaser":"","voice_url":""},"yoast_head":"\nOil imports, trade + SME development get USD 1.1 bn shot in the arm - 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\/01\/14\/oil-imports-trade-sme-development-get-usd-1-1-bn-shot-in-the-arm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil imports, trade + SME development get USD 1.1 bn shot in the arm\" \/>\n<meta property=\"og:description\" content=\"Egypt is getting another USD 1.1 bn loan for imports of petroleum products and basic commodity purchases from the International Islamic Trade Finance Corporation (IFTC) after the two sides signed an agreement yesterday, according to a Planning Ministry statement. 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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":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":559244,"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 "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":546970,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/were-closing-in-on-usd-3-5-bn-from-the-itfc-world-bank-to-help-with-food-and-energy\/","url_meta":{"origin":559244,"position":3},"title":"We\u2019re closing in on USD 3.5 bn from the ITFC + World Bank to help with food and energy","author":"enterpriseam admin","date":"5 June 2022","format":false,"excerpt":"Egypt is finalizing some USD 3.5 bn in fresh financing from multilateral lenders to shore up food and energy security amid ongoing disruptions to global markets. First up: We\u2019re getting that USD 3 bn from the ITFC. 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Sonbol told us last week that the\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":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":559244,"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 "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\/559244","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=559244"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/559244\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/559235"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=559244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=559244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=559244"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=559244"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=559244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}