Saeed added that the Egyptian General Petroleum Corporation and other public sector beneficiaries benefit from financing operations, in addition to the Social Fund for Development and 3 companies from the private sector.
The package would also enable the authority in meeting basic commodities needs, the statement added.
Gamea added in a statement Thursday that $700 million of the funding will go to the energy sector, while $400 million will be for the internal trade.
Gamae pointed out to the importance of making the maximum benefit from the funding programs allocated by the ITFC to Egypt that are worth $1.1 billion and serve the sectors of energy and internal trade.
The two sides agreed on a timetable to implement EDA programs as well as the budget proposed for each program.
This comes as part of the agreement worth $3 billion signed in January 2018 between the Ministry of Investment and the International Islamic Trade Finance Corporation.
The minister praised the role played ITFC to provide basic commodities for citizens through a 3 billion dollar agreement signed last year.
A presidential decree was issued on Thursday sanctioning a framework agreement between the Egyptian Investment and International Cooperation Ministry and the International Islamic Trade Finance Corporation (ITFC) to fund Egypt's importation of staple comm
President Sisi has serious vision on development in Egypt - ITFC CEO
Over 10 years, the Islamic International Trade Finance Corporation has contributed more than 40 billion dollars to funding and developing trade operations.
Minister of Investment signed Tuesday a $3 billion agreement with the Islamic Trade Finance Corporation (ITFC) to support the provision of basic goods in Egypt.
The Islamic Development Bank Group-affiliate International Islamic Trade Finance Corporation (ITFC) seeks strategic partnership with Egypt in light of its continued.
(ITFC) delegation will visit Cairo to agree on a plan of action with the Export Development Authority to beef up Egypt's exports in the coming three years