Reliable, affordable energy will reinforce stability: UAE Minister
DUBAI, January 17, 2021 Providing reliable and affordable energy will reinforce stability in the Middle East and drive economic growth, Suhail bin Mohammed Al Mazrouei, Cabinet Member and Minister of Energy and Infrastructure, said. Addressing a virtual meeting of energy ministers and senior officials of UAE, US, Bahrain, Israel, Morocco and Sudan, he said UAE believes in the wide-ranging prospects of growth awaiting the energy sector in the Middle East, a WAM report said. The international meeting reviewed the prospects of developing the energy sector and follow up on the recommendations made by a meeting held in Abu Dhabi in December as part of the Abraham Accords Peace Agreement, signed in the same month.
ITFC provides trade funding to Egypt
Published by: Andrew Mizner at 15/01/2021 Egypt will benefit from USD 1.1 billion through a new programme from the International Islamic Trade Fina.
Egypt will benefit from USD 1.1 billion through a new programme from the International Islamic Trade Finance Corporation.
The
International Islamic Trade Finance Corporation (ITFC) has agreed a new programme which will provide USD 1.1 billion to Egypt in the form of integrated trade solutions.
The ITFC, part of the
Islamic Development Bank Group (IsDB), previously provided USD 3 billion to Egypt in a programme that ended in 2018. That funding was intended for food commodities, crude oil and petroleum, as well as to strengthen value chains, help the growth of small and medium-sized enterprises (SME) growth and develop trade.
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Within the Framework of Cooperation between the Arab Republic of Egypt and the International Islamic Trade Finance Corporation: Five Ministers Witness the Signing of ITFC’s 2021 Program Totaling US$ 1.1 Billion Aimed at Providing Integrated Trade Solutions to Egypt
In 2021, collaboration will continue with the aim of providing institutional support and capacity building programs
CAIRO, Egypt, January 13, 2021/APO Group/
Minister of Planning and Economic Development: The total financing of ITFC (www.ITFC-IDB.org) reached US$ 11.2 billion, in favor of Egypt until 2020; Minister of Petroleum and Mineral Resources: We appreciate ITFC’s keenness and continuous support to contribute to the vital role of the petroleum sector; Minister of Supply and Internal Trade: We commend ITFC’s role in helping to provide basic food commodities, which contributed to strengthening strategic reserves; Minister of International Cooperation: The International Islamic Trade Finance Corporation’s