Egypt’s Ministry of Planning has outlined key cooperation pillars with the International Islamic Trade Finance Corporation (ITFC) and the Islamic Corporation for the Development of the Private Sector (ICD), both subsidiaries of the Islamic Development Bank Group. This follows the signing of the 2025 Annual Work Program between Egypt and the two institutions, valued at $1.5 billion.
Notably, between 1985 and 2007, IDB provided Egypt with approximately $1.675 billion to fund the importation of petroleum, petroleum products, and wheat. This financial support also benefited a range of governmental entities by financing the importation of industrial inputs, raw materials, spare parts, and other essential products, in cooperation with the Egyptian General Petroleum Corporation.
Following the establishment of the ITFC in 2008, Egypt has received approximately $18.7 billion in financing from the institution up until January 2025, aimed primarily at supporting the importation of petroleum and related products, as well as food commodities. The total amount of financing provided by the ITFC to Egypt now stands at an impressive $20.4 billion.
The Ministry’s report also highlighted key trade development programs, including the bilateral program under the Arab-Africa Trade Bridges (AATB) initiative. This program seeks to enhance economic integration and foster sustainable growth across both Arab and African nations, with a particular focus on sectors that generate significant added value, such as industries requiring skilled labor and sectors capable of attracting further investments.
Another significant initiative, the Aid for Trade Initiative for Arab States (AfTIAS), aims to improve international trade within the Arab region, making it more efficient, inclusive, and conducive to job creation. As part of this effort, a partnership agreement was signed between the ITFC, Expolink, and Egypt’s Foreign Trade Training Center to establish the Export Academy in Egypt during the annual meeting of the Islamic Development Bank Group in May 2023.
On a parallel track, the report emphasized the ongoing enhancement of Egypt’s partnership with the ICD, as part of the government’s efforts to empower the private sector and support its leadership in development initiatives. To date, the ICD has committed a total of $315 million in agreements for Egypt’s private sector, with the 2025 Annual Program allocating $100 million specifically to finance small and medium-sized enterprises (SMEs). The program will also see ICD expanding its direct investments and financial tools across various sectors, while offering advisory services to the government in the field of sukuk (Islamic bonds).
