{"id":597254,"date":"2019-07-21T04:01:56","date_gmt":"2019-07-21T04:01:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/itfc-to-provide-usd-50-mn-in-loans-to-egyptian-smes-in-2020\/"},"modified":"2019-07-21T04:01:56","modified_gmt":"2019-07-21T04:01:56","slug":"itfc-to-provide-usd-50-mn-in-loans-to-egyptian-smes-in-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/itfc-to-provide-usd-50-mn-in-loans-to-egyptian-smes-in-2020\/","title":{"rendered":"ITFC to provide USD 50 mn in loans to Egyptian SMEs in 2020"},"content":{"rendered":"<p><b>ITFC to provide USD 50 mn in SME loans in 2020: <\/b>The Islamic Trade Finance Corporation (ITFC) will channel a USD 50 mn facility through local banks to finance SMEs in January 2020, <a href=\"https:\/\/www.masrawy.com\/news\/news_economy\/details\/2019\/7\/19\/1603879\/-%D8%A7%D9%84%D8%AA%D9%85%D9%88%D9%8A%D9%84-%D8%A7%D9%84%D8%A5%D8%B3%D9%84%D8%A7%D9%85%D9%8A%D8%A9-%D8%AA%D8%B6%D8%AE-50-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%84%D9%85%D8%B5%D8%B1-%D9%81%D9%8A-%D9%8A%D9%86%D8%A7%D9%8A%D8%B1-%D8%A7%D9%84%D9%85%D9%82%D8%A8%D9%84#sectionListing\">CEO Hani Sonbol told Masrawy<\/a>, without revealing which banks the ITFC will be working with. This will be the first time the institution provides funding to Egyptian private sector businesses. Egypt signed two agreement with the ITFC <a href=\"https:\/\/enterprise.press\/stories\/2018\/09\/09\/egypt-signs-agreement-to-unlock-usd-3-bn-of-financing-from-itfc-for-essential-commodities\/\">last year<\/a> to unlock a total of USD 3 bn in financing to purchase foodstuffs and petroleum products. State grain buyer GASC then secured a USD 1 bn tranche <a href=\"https:\/\/enterprise.press\/stories\/2019\/01\/27\/egypts-gasc-secures-usd-1-bn-from-itfc\/\">in January<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 be the first time the [&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":[8572],"tags":[72,7087,845,287,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-597254","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-finance","tag-international-islamic-trade-finance-corporation","tag-smes","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"a2749631-a2fc-43e3-a933-3dc2b209ea34","is_powered_by":true,"section_story_id":"4d4d3eb7-cc68-4a66-97b3-c12fce56eb92","story_type":"1","photo_url":"","photo_position":"above","related_issue":[597238],"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 to provide USD 50 mn in loans to Egyptian SMEs in 2020 - 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\/2019\/07\/21\/itfc-to-provide-usd-50-mn-in-loans-to-egyptian-smes-in-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ITFC to provide USD 50 mn in loans to Egyptian SMEs in 2020\" \/>\n<meta property=\"og:description\" content=\"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. 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The funds are part of a USD 3\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":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":597254,"position":2},"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":[]},{"id":596685,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/04\/itfc-floats-second-trade-financing-agreement-with-egypt-in-2020\/","url_meta":{"origin":597254,"position":3},"title":"ITFC floats second trade financing agreement with Egypt in 2020","author":"enterpriseam admin","date":"4 July 2019","format":false,"excerpt":"ITFC floats USD 3 bn trade financing agreement with Egypt in 2020: The International Islamic Trade Finance Corporation (ITFC) expects to reach a new trade financing agreement with Egypt worth USD 3 bn in 2020, CEO Hany Sonbol said, according to Al Mal. 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