25 September 2018 07:27 PM

EGPC, ITFC sign deal for financing petroleum products by USD 2 billion

Saturday، 08 September 2018 - 01:26 PM

The Egyptian General Petroleum Corporation (EGPC) and the International Islamic Trade Finance Corporation (ITFC) signed a deal to facilitate providing Egypt with two billion dollars’ worth of petroleum products.

Minister of Petroleum Tarek el Molla and Minister of International Cooperation Sahar Nasr witnessed the signing ceremony.

Molla said the deal proved the confidence of the international institutions in the potentials of the Egyptian economy, the reforms introduced by the Egyptian government and Egypt’s ability to honor its international commitments and obligations.

The petroleum minister said he discussed with the ITFC boosting cooperation in the coming period.

Nasr said the deal came as part of the strategic partnership between Egypt and the ITFC, which included ensuring the availability of oil products in the Egyptian market.

MENA

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