Egypt’s Planning and Economic Development Minister Hala el Saeed discussed with CEO of the International Islamic Trade Finance Corporation (ITFC), Hany Sonbol, means to enhance future cooperation between Egypt and the corporation.
They had a meeting on Saturday on the sidelines of annual meetings of the Islamic Development Bank (IsDB) Group, that kicked off on May 10 and will last until today.
The minister reviewed current fruitful cooperation between Egypt and the corporation in different domains, lauding the signing of deals on developing partnerships between both sides to serve the state’s efforts on providing citizens with basic food commodities and petroleum products.
ITFC is a member of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among Organization of Islamic Cooperation (OIC) member countries, which would ultimately contribute to the overarching goal of improving the socio-economic conditions of the people across the world.
Commencing operations in January 2008, ITFC has provided US$69 billion of financing to OIC member countries, making it the leading provider of trade solutions for these member countries’ needs.
With a mission to become a catalyst for trade development for OIC member countries and beyond, the corporation helps entities in member countries gain better access to trade finance and provides them with trade-related technical assistance programs, which would enable them to have the necessary tools to successfully compete in the global market.