- Dr. Mohamed Farid Saleh:
- Preparing a new generation of exporters is a priority for enhancing the competitiveness of Egyptian exports.
- Expanding training programs to improve the efficiency of new exporters and broaden the export base.
- Targeting an increase in the number of trainees during the coming phase to support the export ecosystem.
- Eng. Adeeb Yousuf Al Aama:
ITFC’s total approvals for Egypt since the beginning of cooperation have exceeded $24.8 billion, allocated to financing energy and food commodities, while empowering exporters, women, and small and medium-sized enterprises.
Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, participated in the signing ceremony of the 2026 Annual Program for Egypt by the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group. The program is valued at $1.5 billion and falls within the framework agreement signed between the two sides for a five-year period with a credit ceiling of up to $6 billion. The agreement comes within the framework of the ITFC’s strategy to support member states of IsDB in implementing their national development plans, including the Arab Republic of Egypt, with the aim of contributing to higher growth rates and achieving sustainable economic development through financing energy and essential commodities, as well as supporting Egyptian exporters in a manner that contributes to creating more job opportunities for youth and women.
The signing ceremony was attended by Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade; Dr. Ahmed Rostom, Minister of Planning and Economic Development and Egypt’s Governor at the Islamic Development Bank; Dr. Sherif Farouk, Minister of Supply and Internal Trade; and Eng. Karim Badawi, Minister of Petroleum and Mineral Resources.
The agreement was signed by Eng. Adeeb Yousuf Al Aama, Chief Executive Officer of the International Islamic Trade Finance Corporation; Mr. Mostafa Ismail Abdel Karim, Vice Chairman of the General Authority for Supply Commodities; and Ms. Amal Tantawy, Deputy Chief Executive Officer for Financial and Economic Affairs at the Egyptian General Petroleum Corporation.
The ceremony also witnessed the launch of the second phase of the “Step Towards Export” training program, in cooperation with the Foreign Trade Training Center affiliated with the Ministry of Investment and Foreign Trade. The launch was conducted by Eng. Adeeb Al Aama and Dr. Mary Kamel, Executive Director of the Foreign Trade Training Center.
The second edition of the program follows the success of the first phase, which benefited 400 small and medium-sized enterprises. The new phase aims to train 600 beneficiaries, including exporters, entrepreneurs, and owners of small and medium-sized enterprises over a two-year period. This includes 100 trainees and specialists who will receive an International Trade Diploma accredited by the Foreign Trade Training Center and the Canadian International Trade Training Center, in order to prepare a new generation of export specialists and export managers through advanced training programs and internationally recognized certifications.
For his part, Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, emphasized that preparing a new generation of exporters is a strategic priority for enhancing the competitiveness of Egyptian exports. He noted that the Ministry is working to qualify professionals with comprehensive knowledge of export fundamentals and international trade tools, ensuring their ability to effectively access foreign markets. He pointed out that the training program implemented by the ITFC has successfully qualified 600 trainees so far, with plans to increase this number in the coming period, thereby expanding the base of qualified exporters and supporting their readiness to expand into global markets.
The Minister also praised the ongoing cooperation with ITFC, affirming that it is a key partner in supporting Egypt’s export development efforts through financing programs, trade promotion missions, and capacity-building initiatives. He commended ITFC’s role in enhancing regional integration and opening new markets for Egyptian products, expressing his aspiration to further strengthen and expand this cooperation in the coming period.
The International Islamic Trade Finance Corporation (ITFC) 2026 work program in Egypt includes the provision of trade finance operations aimed at supporting the energy, food security, and small and medium-sized enterprise sectors, with a total value of $1.5 billion in favor of the Egyptian General Petroleum Corporation and the General Authority for Supply Commodities. It also includes the provision of credit lines to local Egyptian banks to support the private sector, including SMEs, in addition to several initiatives such as the delivery of integrated trade solutions through the design and implementation of a technical assistance and capacity-building program in coordination with the Ministry of Planning and Economic Development, as well as organizing a workshop on digital trade in Egypt to support the government’s efforts in advancing digital commerce.
ITFC’s initiatives also include programs aimed at trade development and business growth, such as the Arab-Africa Trade Bridges Program, through the design and launch of a country program for Egypt for 2026–2027 to continue supporting Egyptian exporters, as well as the second phase of the Aid for Trade Initiative for Arab States (AfTIAS 2), through the approval and implementation of projects submitted by the Arab Republic of Egypt under the program.
For his part, Eng. Adeeb Yousuf Al Aama, Chief Executive Officer of the International Islamic Trade Finance Corporation, expressed his appreciation for the support extended to ITFC by the Egyptian government, commending the economic reforms undertaken to improve Egypt’s economic conditions and strengthen its path toward comprehensive and sustainable development. He affirmed ITFC’s commitment to supporting the Egyptian government in implementing its economic vision and national development plans.
He explained that since the establishment of the cooperation portfolio between Egypt and ITFC in 2008, total financing has reached approximately $24.8 billion, allocated to vital sectors, primarily energy and food security. In this regard, Egyptian banks have played a pivotal role in mobilizing resources in partnership with the ITFC, with these financings primarily directed to the Egyptian General Petroleum Corporation and the General Authority for Supply Commodities, in addition to financing a number of the ITFC’s clients in other member countries.
He added that these efforts have also included the implementation of important development projects aimed at empowering women and supporting exporters, with the objective of achieving sustainable development impact, noting ITFC’s commitment to supporting the private sector in Egypt in a way that enhances sustainable development efforts.
He further affirmed that ITFC will work during 2026 to expand cooperation with its partners and provide new programs and projects that contribute to the economic empowerment of women, youth, micro, small and medium-sized enterprises, and exporters.
