Planning min: ITFC CEO review boosting cooperation

Planning Minister Hala el Said – who also represents Egypt at the board of governors of the Islamic Development Bank (IsDB) – had talks on Monday 4/3/2019 with CEO of the IsDB’s International Islamic Trade Finance Corporation (ITFC) Hani Sonbol on means of promoting bilateral cooperation.

In a statement on Monday, Said praised the role played by the ITFC and Islamic Development Bank in realizing social and economic development in Islamic countries, especially Egypt.

She expounded that Egypt seeks to realize structural change in the sources of economic growth, noting that investment and net exports affect about 67 percent of the average annual growth rate within the 2018-2022 sustainable development plan.

Said underlined Egypt’s keenness on continued support for the bank’s activities in various countries.

She referred to the agreement signed on establishing a representation office in Cairo and the 2019-2021 strategic cooperation document.

Meanwhile, ITFC CEO Hani Sonbol said the ITFC started implementing a number of important projects, including a west Africa finance program for small and medium-sized projects and a program for extending Arab-African bridges.

The program for extending Arab-African bridges is meant to enhance trade and business cooperation among Arab and African countries, he said.

He added that the program goes in harmony with Egypt Vision 2030 to open new markets for Egyptian exports.

He noted that Egypt is one of the biggest beneficiaries of the program.

Source: State Information Service Egypt