Minister of Supply and Internal Trade Sherif Farouk met on Thursday Adeb Yousuf Al Aama, Chief Executive Officer of the International Islamic Trade Finance Corporation (ITFC), to discuss expanding co‑operation in financing strategic commodity imports and supporting Egypt’s food security efforts.
The meeting reviewed co‑operation between the ITFC and Egypt’s General Authority for Supply Commodities (GASC) in financing purchases of grains and edible oils, in co‑ordination with the Mostaqbal Misr Agency for Sustainable Development. Discussions also covered mechanisms to expand financing programmes for the food security sector and enhance strategic stock management and supply chain systems.
Farouk described the ITFC as a key strategic partner supporting Egypt’s food security system, stressing the ministry’s commitment to strengthening co‑operation and benefiting from the institution’s financing programmes to secure essential commodities and maintain safe and sustainable strategic reserves.
For his part, Al Aama affirmed the ITFC’s commitment to expanding its financing and technical support programmes in Egypt. He revealed that the corporation has approved approximately $1.3 billion in financing for the General Authority for Supply Commodities during 2026 so far, supporting the state’s efforts to secure strategic food supplies and strengthen food security.
The two sides agreed to continue consultations and build on the existing partnership to develop financing mechanisms that support sustainable food security, market stability and the availability of essential commodities for citizens.
