Gov't keen on boosting cooperation with different regional, int'l financial institutions: min.

CAIRO - 6 February 2020: Minister of Trade and Industry Nevin Gamae asserted the keenness of the government on boosting cooperation with the different regional and international financial institutions to fund developmental projects across the country.

The government is working on benefiting from all the financing programs of the International Islamic Trade Finance Corporation (ITFC) especially in the fields of developing small- and medium-scale enterprises and carrying out industrial, energy and agricultural projects and trade promotion programs, she said.

This came during an extended meeting of Gamae with ITFC Chief Executive Officer Hani Salem Sonbol and his accompanying delegation where they reviewed the current and future projects of the Islamic Development Bank in the Egyptian market in addition to the ITFC business program in 2020.

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 dollars and serve the sectors of energy and internal trade.

There are other programs of the ITFC in Egypt in the fields of supporting exporters and importers and developing the value chains in the cotton sector, she said.

She asserted the importance of providing long-range funding programs from the ITFC to the Micro, Small and Medium Enterprise Development Agency (MSME).

Meanwhile, Sonbol asserted the keenness of the ITFC on expanding developmental cooperation programs and funding programs with the Egyptian government in the coming period.

He also pointed out to the importance of activating joint work between the Arab and African countries to boost economic cooperation between the countries of the south to fully benefit from the huge natural resources available in Africa.