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Islamic Development Bank provides $265mln to Egypt state-owned oil firm

Posted on 11 January 2013

The International Islamic Trade Finance Corporation (IITFC), a branch of the Islamic Development Bank, has provided $265 million in funding to Egyptian General Petroleum Corporation (EGPC).
This raises the amount of money provided to the EGPC by the IITFC since October last year to nearly $500 million to help the state to secure a larger number of basic goods and other necessities for its citizens. This would include petroleum products, wheat and other foodstuffs………………………………………..Full Article: Source

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