Egypt received 1.5 billion dollars from "Islamic for Trade Finance" in 2025

The Egyptian government will receive $ 1.5 billion from the International Islamic Foundation for Trade Finance, according to the Minister of Planning, Economic Development and International Cooperation Rania Al -Mashat in an interview with the “East”. The agreement during the visit of the president of the International Islamic Trade Financing Enterprise Hani Senbil at Cairo last night to sign the annual work program for the year 2025 between the two parties. Later, the Egyptian Ministry of Planning, Economic Development and International Cooperation explained in a statement that $ 800 million of the value of financing to the Egyptian General Petroleum Authority would be directed to improve the supply of petroleum products and energy in the Egyptian market, while the general authority for commodities provision would support 700 million to provide food. The stock of goods “safe” on the sidelines of the signing event, Egyptian Minister of Supply Sherif Farouk, in an interview with “Al -Sharq” indicated that the balance of basic commodities in Egypt is safe and covers the local need for more than six months in most commodities. “We have a great willingness to Ramadan. Consuming increase in Ramadan, but we are ready for this consumption. There is great availability and stability in the markets,” the minister said. Also read: Egypt aims to increase wheat reserves for 6 months by strengthening purchases, Hossam Al -jarhi, vice -chairman of the Supply Commodities Authority, told Al -Sharq last month that the “future of Egypt”, the new exclusive government kicker, on the provision of a month of minus of the minus of the Ministry of the Ministry, about 900 Tons, handed over, who the Minister of the Minister of the Minister of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of the Ministry of wheat. The import of wheat in Egypt jumped to the highest level during the year 2024 to reach 14.2 million tonnes, compared to 10.8 million tonnes in 2023, an increase of 31%, according to an official document obtained by “Al Sharq”. The reason for increasing the amounts imported from wheat over the past year is mainly due to the abundance of the dollar, in addition to the fall in the average global wheat prices during the same year up to $ 240 per tonne, compared to its prices in 2023, which was more than $ 350 per tonne, according to a government official for the “East”. The development of the commodity stocks regarding the commodity stock exchange, the Egyptian minister has indicated that it has a desire to develop it, adding that it will include a large number, not only of food, but also of other goods. Also read: Russian -Gyptic negotiations to improve the mechanism for the purchase of wheat in 2025, Farouk held a meeting in mid -July, days after taking over the ministry’s portfolio, with the head of the Egyptian Stock Exchange, Ahmed Al -Sheikh, which takes the directors of the commodity directors to discuss the commodity. Stimulate the dissertation by jeopardizing and taking the vice and studying the studies, and studying the study of the commodity, and stimulating the handling of handling by stimulating the care. Increase in the number of goods listed in it, in addition to expanding the membership base and stimulating the role of its own sector. A week later, the Egyptian minister met with the head of the general authority for financial supervision, Mohamed Farid, and discussed in the same case, and that the commodity stocks are a security shelter and are hedged by the risks of price fluctuations for those handling it. At the beginning of the year 2024, it seemed as if the Egyptian commodity stockings were on the threshold of a qualitative shift as it announced major ambitions to expand the scope of trade to include 13 basic commodities, but it ended the year on disappointing hope, as the platform is not a trade at this time. The support of the private sector on its part, the Islamic Sector Development Corporation will provide funds of $ 100 million for the private sector in Egypt during the current year, according to the statement of the Egyptian Ministry of International Cooperation issued today. In an interview with “Al -Sharq”, Hani Sunbul, who also holds the position of president on the Islamic Corporation for the development of the private sector, revealed that the foundation is currently preparing a program for the private sector similar to the program that has been implemented with the Egyptian government, and added that a mission of the foundation is now on the program. of an advantage of the foundation. The foundation also seeks to diversify its portfolio in the country by strengthening the role of the private sector and collaboration with Egyptian banks to support the sector of small and medium -sized companies, according to Sunbul. Al -Mashat indicated during the interview with Al -Sharq that the development funds for the private sector in 2024 exceeded government funds, “and that means there is a bet on the Egyptian private sector in various sectors, especially the new and renewable energy.”